Noble Group: Likely To Record US$130 Million 1Q17 Net Loss.
- Original Post from ShareInvestor Express

$Noble Group(CGP) Noble Group Limited is likely to record a net loss of around US$130 million for the three months ended 31 March 2017. The operating environment remained challenging for the Group in 1Q 2017, made worse by dislocation in the coal markets during the quarter causing the decoupling of the prices of key indices, liquidity dropping significantly and the breaking down of correlation...

Attachment 1: Profit_Guidance_SGX_Announcement_-_9May17.pdf

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HuatBrother

NOBLE IS REPORTING "PAPER LOSS"!!! LOL


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Noble Group: Disposal Of Ocean Forte, A Kamsarmax Dry Bulk Carrier Vessel For US$23.79 Million.
- Original Post from ShareInvestor Express

$Noble Group(CGP.SI) Noble Group Limited and its indirect wholly-owned subsidiary, Core Forte Limited, had on 15th June 2018 entered into a memorandum of agreement with Aeolian Spirit Shipping Limited and Transmed Shipping Limited, which shall guarantee the performance of the Buyer, in connection with the proposed sale of a Kamsarmax dry bulk carrier vessel to the Buyer, in accordance with the terms and conditions of the MOA. The consideration for the Proposed Disposal shall be US$23.79 million. The Vessel, namely, Ocean Forte, is registered under the flag of Hong Kong. The gain on the Proposed Disposal would amount to approximately US$0.03 million based on the carrying value of the Vessel as at 31 March 2018...

Attachment 1: SGX_announcement_-_OCEAN_FORTE_sale.pdf

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Noble Group: 1Q18 Net Loss Down 45% To US$71.5 Million.
- Original Post from ShareInvestor Express

$Noble Group(CGP.SI) Primary focus on implementing the proposed restructuring of the Group's debt. Positive adjusted operating income from supply chains and realisation on physical contracts in 1Q 2018. 16% reduction in quarterly selling, administrative & operating expenses, in line with cost reduction strategy. Sale of Noble Americas Corp successfully completed on 12 January 2018. Debt reduced following repayment and cancellation of borrowing base facilities...

Attachment 1: Q1_2018_Media_Release_vF.pdf

Attachment 2: Q1_2018_SGX_announcement_vF.pdf

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Michael Dee: SGX & MAS Have Miserably Failed The Investment Community In The Noble Case.
- Original Post from ShareInvestor Express

$SGX(S68.SI) $Noble Group(CGP.SI) While I have the highest and deepest regard for the people and policies of the regulatory regime in Singapore at the SGX and MAS I do believe they miserably failed the investment community in the Noble case. They should be judged by the cataclysm known as Noble. I do hope at some point they stiffen up and demand a fully independent forensic accounting review of Noble in addition to undertaking some deep soul searching in the wake of this and other recent scandals. Singapore has a very well deserved reputation but no one is perfect and in this case they failed miserably the implication of which is loses of tens of billions of dollars...

More information can be found here.

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Michael Dee: Noble Hired The Now Disgraced Firm Of Bell Pottinger To Spin Its Story Of Being Wronged.
- Original Post from ShareInvestor Express

$Noble Group(CGP.SI) The media kept writing about this story but did limited deep investigation which is on them. The story was there to be done but Noble hired the now disgraced firm of Bell Pottinger to spin Noble's story of being wronged and to strong-arm, threaten and intimidate the press. I heard this from numerous reporters some of whom had to get articles cleared by legal to avoid the threat of lawsuits. One pines for the days of Katherine Graham...

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Michael Dee: E&Y Had Been Noble's Auditor For 20 Years!
- Original Post from ShareInvestor Express

$Noble Group(CGP.SI) Then Noble did something interesting, they wrote it down to something like 30 times taking a big earnings hit. This prompted me to wonder how they decided on the new mark-to-market value. What model did they use, what crazy ludicrous assumptions could generate these values, and most importantly, how did their auditor E&Y allow and sign off on this? I tried to recreate such a valuation model but it was nuts, the numbers didn't work at all. It was then I learned that E&Y had been Noble's auditor for 20-ish years! Now the red lights were flashing and the alarm bells were deafening. No board audit committee should ever allow an audit firm to stay in place for 20 years, the conflicts of interest are simply too big to allow it...

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