Singapore probing Noble Group for disclosure breaches

Noble Group
Noble Group Ltd. signage sits on display outside during an investor day in Singapore. Photographer: Nicky Loh/Bloomberg

Singapore authorities said on Tuesday that they are investigating Noble Group Ltd for suspected false and misleading statements and breaches of disclosure requirements under the city-state’s laws.

Authorities are also looking into potential non-compliance with accounting standards by Noble’s wholly-owned subsidiary, Noble Resources International, the Commercial Affairs Department of the Singapore Police Force, the Monetary Authority of Singapore and the Accounting and Corporate Regulatory Authority said in a joint statement.

Noble, once Asia’s top commodity trader, is seeking to transform into an Asia-focused coal-trading business following a $3.5 billion debt restructuring deal.

Noble could not be reached immediately for a comment when contacted by Reuters.

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Reuters