Can Noble Group turn the tide and weather the storm? The embattled commodity trader is currently fighting for its life as it faces an epic swim-or-sink battle. The latest financial results revealed that the nightmare, which started two years ago, is set to continue.
Once the brightest star in the Singapore stock market, Noble Group market capitalization was worth a mighty $10 billion. In its heyday, it reigned supremacy and was even regarded as the world’s top commodity trader, alongside rival Glencore. For Singapore Exchange (SGX), it was indeed an honor for Noble Group to be listed in Singapore, even though it is a Hong Kong-based company.
Those good old days must be dreamy for investors now as its market capitalization shrank to an alarming $460 million. The rot started two years ago when an unknown financial blogger, Iceberg Research, accused Noble Group of accounting malpractices. That astonishing allegation led to a series of vicious short-selling attacks and precipitated the start of the downfall of Noble Group.
Prior to the release of the latest quarterly results, management has [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
Read my articles on Noble Group:
- Noble Group’s horror show
- Noble Group new white knight?
- Will Noble Group shares see daylight again?
- Collapse of Noble Group share price
- Meltdown of Noble Group shares
- Noble Group will sink or swim?
- Is Noble Group doomed?
- Will Noble Group do an Osim or Swiber?
- White Knight for Noble Group
- Mayday for Noble Group!
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