Silverlake issues review to rebut claims of wrongdoing
Review by independent consultant suggests no impropriety in related party deals highlighted by anonymous report
Singapore
STUNG some six months ago by an anonymous short-selling report that alleged wrongdoing in certain deals linked to its controlling shareholder, Silverlake Axis on Wednesday released a 55-page independent review that suggested no impropriety in the three such transactions.
But the report raised that one of three acquisitions, worth RM118 million (S$38 million), seemed larger than it should, and this addition has underperformed based on the transaction price.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US dollar soft on renewed Fed rate cut bets; yen on back foot
Possible class action lawsuit against Cordlife by customers could take at least 2 years
SAP extends CEO Klein’s contract until 2028
Paragon Reit posts 3% rise in Q1 gross revenue to S$73.8 million
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Singapore Airlines orders 1,000 tonnes of sustainable aviation fuel from Neste