Noble has not convinced all on its move into rare earths

NOBLE Group, in its first investment in a long time, has latched on to the clean energy bandwagon.

While its management's effort to steer the group into what appears to be a promising business is laudable, the group will have to address questions on its choice of investment target so far.

Unfortunately, the group's latest move will not distract investors from the elephant in the room - its nearly US$4 billion of debts that are currently being restructured.

Noble made its first investment in over two years in November when it invested some S$25 million in two rare earth projects.

Given all the downsizing and divestments the group has …