Silverlake issues review to rebut claims of wrongdoing
Review by independent consultant suggests no impropriety in related party deals highlighted by anonymous report
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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.
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