WiseTech acquires Portugal's Singeste
PRESS RELEASE WiseTech Global acquires Singeste – Sistemas De Informatica to expand global customs capability into ...
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
Australian freight software developer WiseTech Global suspended trading in its shares on the Australian Stock Exchange (ASX) after it was accused by financial analyst J Capital of overstating its profits. Considered to be part of series of attacks by short-sellers on listed Australian companies, the research firm alleged: “We have spent months analysing the company and concluded that WiseTech is manipulating its accounts to make growth and profit appear higher than they really are.” Since listing on the ASX as little as three years ago, WiseTech has made some 34 acquisitions around the world of freight software developers and now has a market capitalisation of A$9.5bn (US$6.48bn) and has forecasted 2019 profits of A$145-153m. The Loadstar understands that a response is likely to be issued in the next few days and the firm said trading in its shares would resume next week.
Comment on this article
Eric Mooney
October 18, 2019 at 11:23 pmOne reason why some companies prefer to keep their systems in-house. Risk.