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Singapore's probe into Noble Group to conclude in 3Q, says MAS

The Edge Singapore
The Edge Singapore4/27/2022 11:52 AM GMT+08  • 5 min read
Singapore's probe into Noble Group to conclude in 3Q, says MAS
Noble's founder Richard Elman (seen in this 2007 file picture) was a former scrapyard worker / Samuel Isaac Chua
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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.

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