$Noble Group(CGP.SI)

'Noble Group disposes stakes in warehousing services subsidiaries as Fitch cuts ratings to junk status

Noble Group has disposed of its entire 100% stakes in three wholly-owned subsidiaries that carry out non-ferrous metals warehousing services to WWS International Holdings, an affiliate of Golden Dragon Resources, for a total consideration of US$4.7 million ($6.5 million).

The subsidiaries disposed were Worldwide Warehouse Solutions Singapore; Worldwide Warehouse Solutions UK and Worldwide Warehouse Solutions, LLC, which is registered in Missouri, US.

Following the disposal, WWS Singapore, WWS UK and WWS US have ceased to be wholly-owned subsidiaries of the company.'

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$Noble Group(CGP.SI)

'SINGAPORE (Sept 23): Iceberg Research -- the long-time foe of Noble Group led by a former employee, Arnaud Vagner -- is working with law firms to launch fraud lawsuits against parties behind the commodity trader’s alleged fraud.

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'(Sept 17): Noble Group Ltd. plans to introduce the schemes of arrangement that underpin its restructuring this week, a key step in the creation of a new company that senior creditors signalled will hold to the highest standards of corporate governance after a drawn-out crisis.

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$Noble Group(CGP.SI)

'SINGAPORE (Sept 10): A response from Iceberg Research to a tweet about Jeff Skilling (pictured, main image) this past week alerted me to the news that the former CEO of Enron Corp had just been released from prison and relocated to a halfway house for the remainder of his jail term. “Chairman position vacant at Noble Group. Fits your skills perfectly,” Iceberg said in its response to the ... '

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'(Aug 28): Noble Group’s foes aren’t going away. Less than 24 hours after the commodity trader won shareholder approval for its US$3.5 billion ($4.77 billion) debt-for-equity deal, long-standing critic Michael Dee said the revamped company will struggle to recover and shouldn’t be allowed to list shares in Singapore.

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'(Aug 27): Embattled commodity trader Noble Group took a significant step toward getting its US$3.5 billion ($4.8 billion) debt-for-equity restructuring over the line after shareholders voted to back the controversial proposal at a special general meeting in Singapore.

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