SGX hones ability to scrutinise asset valuations, pressures auditors — will it close the ‘trust deficit’?

SINGAPORE (Feb 4): On Jan 25, Singapore Exchange Regulation (SGX RegCo) briefed several journalists about its plans to play a more active role in determining the scope of statutory audits of locally listed companies, and beef up its capabilities to scrutinise the value of corporate assets.

Noble preps for a sale. Or at least its bonds do: Bloomberg Gadfly


SINGAPORE (March 7): If you believe the bond documents, Noble Group really is for sale.

The Singapore-listed commodities trader raised US$750 million ($1 billion) selling dollar notes Monday that mature in five years. A clause provides for immediate repayment if the company is acquired. But that would only be triggered if Noble were rated investment grade at the time.

Noble crashes into another salvo from Iceberg

SINGAPORE (Feb 24): Another damning report from secretive stock research firm Iceberg Research sent shares of commodity trader Noble Group plunging on Friday, triggering an unusual trading activity query from the Singapore Exchange.

At the close on Friday, Noble shares were down 16.7% or 4.5 cents to 22.5 cents with 623.4 million units traded, making it the most active stock of the session.

Wilmar, Noble, SBS Transit, SATS, UOL, Hotel Properties

SINGAPORE (Nov 11): Here are some factors and stocks that could move the market this Friday morning:

Wilmar International's 3Q earnings surged 47% to US$392.2 million ($552 million) from a year ago, thanks to lower foreign-exchange losses and gains from investment securities. Revenue also rose 4% to US$11.1 billion from the year-ago period, led by to stronger commodity prices. The counter gained three cents to close at $3.35 on Thursday.

Just when you thought things couldn’t get any worse at SembMarine...

SINGAPORE (Oct 26): Sembcorp Marine’s announcement that it had sunk to a net loss of $21.8 million in 3Q while 9-month earnings of $44.5 million made up just 25% of consensus full-year earnings came as a surprise for market watchers already expecting a poor set of results.

To recap, SembMarine’s 3Q was hit by $18.8 million in forex losses and $27.7 million of associate losses from Cosco Corp. Maybank Kim Eng analyst Yeak Chee Keong notes that excluding the forex loss, operating profit would have come in at $51.8 million, barely meeting expectations.

STI closes 0.07% lower at 2,842.62

SINGAPORE (Oct 20): Singapore stocks gave up early gains on Thursday and closed marginally lower, on broadly weaker regional cues and a fall in oil prices.

The Straits Times Index ended 0.07% or 2 points lower at 2,842.62. In the broader market, 1.56 billion shares were traded, generating a transactional value of $887.5 million. Gainers outnumbered losers 180 to 158.

Noble and Blumont were the most actives, hitting trading volumes of 159 million and 123.4 million respectively.

Singapore’s PMI, KLW, P99, Noble, Azeus, Jason Holdings

SINGAPORE (Oct 4): Here are some factors and stocks that could move the market this Tuesday morning:

Singapore’s manufacturing sector expanded marginally in September, according to the Purchasing Managers’ Index (PMI). The 50.1 reading - a 0.3-point increase from the previous month - marks the first above-50 reading after 14 consecutive months of contraction. The slight improvement was due to higher readings in new orders, new exports, and factory output.

STI closes 1.6% higher at 2,896.55

SINGAPORE (Sept 6): The Singapore market ended higher on Tuesday despite a general lack of direction in global markets.

As at 5.04pm, the key Straits Times Index (STI) was up 44.81 points or 1.57% at 2,896.55. This came after the index closed 1.6% higher on Monday, ending a six-session decline. About 1.44 billion shares valued at $1.32 billion changed hands. Gainers outnumbered losers 275 to 111.

Among the STI component stocks, banks, developers and offshore and marine stocks were some of the biggest gainers.

Oil traders leave Noble Group, three join Glencore: sources

Noble logo

SINGAPORE (May 12): Five oil product traders have resigned from Noble Group, Asia's biggest commodity trader by revenue, some of whom are moving to rival trader Glencore, sources with knowledge of the issue said.

Three of Noble's London-based gasoline traders are joining Glencore, according to the sources. The status oCutf two other traders was not immediately clear.

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