Shareholders raise concern over Noble's thinning margins

Singapore

CONCERN over Noble Group's thinning margins, and the sustainability of its business model, dominated questions at its annual general meeting (AGM) on Thursday.

In response to news reports on the higher interest costs that its new credit facility is expected to carry, Noble also sought to emphasise that its overall funding costs will remain the same over the next few years.

Noble recorded an operating income margin of 1.76 per cent last year, down from 1.95 per cent in 2014, after adjusting for one-off losses. Its cost of debt last year stood at 3.8 per cent. Noting these numbers, veteran investor Mano Sabnani ask…