Noble Group

Fitch Ratings has issued a widespread downgrade to Noble Group, as poor liquidity and weak profitability continue to hinder the turnaround of the struggling commodities trader.
Fitch downgraded Noble's Long-Term Foreign-Currency Issuer Default Rating (IDR) to "CCC" from "B-."
At the same time, the agency downgraded Noble's senior unsecured rating and the ratings on all its outstanding senior unsecured notes to "CCC" from "B-."

http://www.cnbc.com/2017/06/26/fitch-dow...noble.html

The last purchase was around 56 cents per share.


In a Monday night filing on the Singapore Exchange, Noble said Goldilocks' direct interest in the group has risen from 5.03% to 8.19%, after it purchased 41.6 million shares through an open market transaction for $23.2 million on July 6.

Noble confirms Abu Dhabi’s Goldilocks raised stake to 8.19%
https://www.theedgesingapore.com/noble-c...-stake-819

Noble expects to post losses of US$1.7b to US$1.8b

http://www.straitstimes.com/business/com...-its-debts

^^ It should be unbelievable "b" not merely "m"

(26-07-2017, 11:26 PM)specuvestor Wrote: ^^ It should be unbelievable "b" not merely "m"

Thanks, have edited to correct the denominations, typo there

Nobel still has so much money to burn ? Really amazing !

Where is the middle East white knight?

Last traded at 41 cents at around 12:30 GMT+8

Noble Group Plunges After Company Warns of $1.8 Billion Loss

By Jack Farchy , Jasmine Ng , and Denise Wee
July 27, 2017, 3:31 AM GMT+8 Updated on July 27, 2017, 11:41 AM GMT+8

Noble Group Ltd. plummeted in Singapore after the company warned of a quarterly loss of as much as $1.8 billion and announced the sale of more assets, abandoning its ambitions in global commodities trading and falling back on its Asian roots in a last-ditch effort to survive.

The shares sank as much as 49 percent to 29.5 Singapore cents, and traded at 42.5 cents at 11:36 a.m. following the profit warning, which came after the close of trade on Wednesday. The slump takes declines this year to 75 percent. The company’s bonds due in 2020 held near a record low.

More details in https://www.bloomberg.com/news/articles/...llion-loss

The losses is the non-cash impairment charges on balance sheet. The new chairman is very "garang" and swiftly

Of course, all are still on paper, nothing real yet.

(27-07-2017, 06:30 PM)YMPL Wrote: The losses is the non-cash impairment charges on balance sheet. The new chairman is very "garang" and swiftly

Of course, all are still on paper, nothing real yet.

Once again it proved the short report is correct....