SINGAPORE May 15 Singapore commodities firm
Olam International Ltd reported a 10 percent rise in
third-quarter net profit on Wednesday, helped by a strong
performance in its food staples and packaged food business.
Olam posted a net profit of S$108.5 million ($87.3 million)
for the three months ended March, up from S$98.7 million a year
Olam, propped up by Singapore state investor Temasek
Holdings after short-seller Muddy Waters attacked its
debt-fuelled acquisitions, said it would nearly halve its
capital spending over the next three years from an earlier plan.
For company statement, click
($1 = 1.2428 Singapore dollars)
(Reporting by Eveline Danubrata; Editing by Paul Tait)