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Noble Group rejects allegations by Iceberg Research
NOBLE Group has rejected the allegations made by Iceberg Research.
"The company completely rejects the allegations. All material information to which Iceberg Research refers is in the public domain. There has been no material adverse change since the company last reported," said Noble in a statement issued on Monday afternoon.
Iceberg Research issued a report on the group on Feb 15, alleging that the latter "exploits the accounting treatment of its associates to avoid large impairments and fabricate profit".
Noble's counter fell 9.5 Singapore cents to S$1.110 as at 2.45pm. The company said it will announce its 2014 results on Feb 26.