Silverlake issues review to rebut claims of wrongdoing

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.