Singapore authorities’ multi-year probe into suspected disclosure offences of Noble Group is at an “advanced stage”, and is expected to “reach a conclusion” in 3Q this year, says the Monetary Authority of Singapore.
Up till 2015, Noble was a high-flying Hong Kong-based, Singapore-listed commodities player. It came under short-selling attacks as questions were raised over the valuation of its assets.
By the time Noble caved and defaulted, its share price had collapsed by 99%. In 2018, it was delisted from the SGX, leaving a mark on founder and chairman Richard Elman, who used to be a scrapyard worker. Elman is 82 years old this year.