(08-05-2015, 05:18 PM)Behappyalways Wrote: a few weeks ago there was a write up on The Edge Magazine by Michael Dee on Noble. The title was Noble issues more serious than Olam. In the article he suggested SGX should look into Noble. A good read if you can get a hold on that article
Noble saga: Ball is in regulator's court
[Then Noble validated Iceberg and recognised a US$200 million impairment after the report was published. However, the carrying value is still in the area of 3,200 per cent or 32 times the market value.]
[With their curt and dismissive performance at the AGM, Noble's leadership has raised the ante for everyone involved.
It is now time for the regulators at the Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) to step in. They should immediately suspend the stock until all questions are fully answered by the founder, CEO, CFO, chairman of the audit committee and the EY auditors. No more claims of confidentiality, no more "specter valuation" models, no more last-minute impairments, no more denials.]
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Found this other article by Dee with similar mention of SGX to step in
If regulators really step in ah, then Noble will really be very jialat liao. By then the issue won't be what PE or what support level.