By Anshuman Daga and Henning Gloystein SINGAPORE, May 15 (Reuters) - Just seven years ago, Noble Group was a $11 billion-plus Asian commodity powerhouse, trading everything from soybeans to oil. As it readies its latest earnings report, it's worth barely $80 million, rooted among Singapore's penny stocks. Due later on Tuesday, Noble's first-quarter results will shed light on … [Read more...]
Noble Group Says Proposed Deals to Sell Four Ships Fall Through
SINGAPORE, Feb 2 (Reuters) - Crisis-wracked commodity trader Noble Group said on Friday said proposed agreements to sell four dry bulk carrier vessels have fallen through after the buyers failed to get approval from their boards for the deals by Thursday. Noble estimated it would have received net proceeds of about $30 million if the vessels had been sold, after repayment of … [Read more...]
Noble Group Faces 11th Hour Oil-Unit Sale as Stock Is Halted
By Jasmine Ng and Lianting Tu (Bloomberg) -- Noble Group Ltd. suspended its shares from trading in Singapore on Friday pending the announcement of a major transaction, with the commodity trader seeking to clinch a sale of its oil-trading unit in a deal that may be critical to the company’s prospects for survival. The stock was halted at 38 Singapore cents, 2.6 percent lower, … [Read more...]
What’s Left of Noble Group as Trader Retreats to Its Asian Roots
By Jasmine Ng (Bloomberg) -- It’s the end of an era for Noble Group Ltd. Some three decades after its founding, and from a perch among the world’s top commodity traders, the company is abandoning its global ambitions and falling back to its Asian roots in a last-ditch effort to survive. Noble is selling its North American gas & power unit to rival Mercuria … [Read more...]
At “Bare Bones” Noble Group, Staff Exits and Debt Pose More Risks
By Anshuman Daga and Henning Gloystein SINGAPORE, July 27 (Reuters) - Noble Group is slimming down drastically to its core Asian coal-trading business, but that may not be enough to revive its fortunes due to a staff exodus, shrunken balance sheet and debts of more than $3 billion, analysts and industry sources say. Once Asia's largest commodities trading house, … [Read more...]