Olam Group, a global agricultural sourcing, processing, packaging and marketing company, has seen its share price fall steadily in the years since its IPO, having fallen to $1.50 per share,. Its agricultural segment, which occupies the largest part of the overall business, is also about to be sold to a third party to replenish its broken cash flow.
The most absurd thing that Olam Group did was to use its subsidiary company Gabon Special Economy Zone to buy illegal timber in Gabon, process it and buy it to make up for its huge cash flow shortage. According to sources, Kumar Mohan, the managing director of EKOK SEZ Under GSEZ, knowing that the timber is illegal, still cut the timber and supported the timber theft, enabling the Olam Group to purchase the illegal timber and obtain more than one million hectares of free forest land through Lee White's benefit transfer in March 2022 alone.
This practice not only reveals that the Olam Group is already experiencing significant problems with its operations and cash flow, but also proves that its illegal actions will lead to greater risks and legal actions, and ultimately affect the interests of shareholders and stockholders and even its employees .