Noble Group (Noble)

Singapore studies tightening bonds, REITs regulation

(Aug 7): Singapore is examining ways to tighten regulation of retail bond issues and the real estate investment trust sector as it steps up investor protection in the city-state.

The Singapore Exchange’s regulatory arm, SGX RegCo, will create a working group to review and improve disclosures relating to retail bonds, SGX RegCo's Chief Executive Officer Tan Boon Gin said in a statement setting out his organisation’s goals for the remainder of the year.

Noble Group to take stake in Australian rare earths developer Arafura

MELBOURNE (June 20): Commodities trading firm Noble Group is set to take a small stake in ambitious Australian rare earths developer Arafura, raising its exposure to strategic minerals critical to high-tech industries and electric vehicles.

In a filing to the Australian Securities Exchange on Thursday, Arafura said that Noble's rare earths subsidiary Talaxis would underwrite A$7.2 million ($6.8 million) of a A$23.2 million share offering. According to Reuters calculations, that would give Talaxis a stake in Arafura of around 8%.

SGX RegCo teams up with professional body of valuers to tackle problem of questionable valuations

SINGAPORE (Jan 28): The Singapore Exchange Regulation has enlisted the help of the professional body of valuers, to bring its expertise to bear when listed companies face questions over the value of assets in potential deals.

Under a memorandum of understanding signed between SGX RegCo and the Institute of Valuers and Appraisals, Singapore (IVAS), which is part of the Singapore Accountancy Commission, the exchange can turn to the institute for expert advice and support on matters related to business valuation.

Exceptionalism has no comparison

SINGAPORE (Nov 23): For decades, Singapore has thrived on the idea that it is, in a word, exceptional. “We are a small country in this part of the world and to survive, you have to be exceptional,” Prime Minister Lee Hsien Loong said at a May Day Rally in 2015. The city state does not have the natural resources that its neighbours are endowed with. But, through hard work and perseverance, it has transformed itself into the successful trade and financial services centre it is today.

UK law firm Locke Lord to represent Noble perpetual bondholders: Iceberg Research

SINGAPORE (Sept 23): Iceberg Research has appointed a law firm to launch lawsuits against parties behind the commodity trader’s alleged fraud.

In a Sept 19 announcement, Iceberg says UK law firm Locke Lord will represent the interests of the perpetual bondholders.

Iceberg is the website created by former Noble employee Arnaud Vagner to expose the company’s financial irregularities.

Noble to soon submit draft for restructuring special meeting

SINGAPORE (Apr 30): Noble Group said it soon plans to set the date for a special general meeting that will decide the commodity trader’s controversial restructuring after the Singapore High Court blocked it from holding an annual meeting at the behest of dissident shareholder Goldilocks Investment Co.

Singapore court halts Noble Group's shareholder meeting on Monday: lawyer

SINGAPORE (Apr 27): A Singapore court blocked commodity trader Noble Group from holding its annual meeting of shareholders' on Monday, in response to legal action taken by dissident shareholder Goldilocks Investment Co.

The move is a blow to Singapore-listed Noble, which is in the midst of a crucial debt restructuring process and has said it plans to hold a special meeting of its shareholders' after its annual general meeting.

Goldilocks says Noble's rejection of nomination of new directors an 'act of utmost bad faith'

SINGAPORE (Apr 23): Goldilocks Investment Company says Noble Group's rejection of its request to nominate five non-executive directors at the company’s Annual General Meeting on Apr 30 is an "act of utmost bad faith" which is "calculated to intentionally damage Goldilocks and all other shareholders".

Noble continues downward spiral as some shareholders cut losses, say analysts

SINGAPORE (June 21): Shares of Noble Group, which fell 65% last year, is down another 46% year to date.

As at 2.35pm on Tuesday, its shares are trading at 21.5 cents as the market sells off on news of a deeply discounted rights issue.

(See: "Noble Group seeks $700 mil from rights issue; rights share priced at 11 cents each")

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