Iceberg's criticism does not take note of improvements by Noble

I REFER to the BT articles published on Aug 4 and 5, 2017, on Iceberg's latest report on Noble Group Limited.

SIAS has been following the developments at Noble. We are pleased that Noble has shown willingness to engage with retail investors, including issuing results guidance and holding shareholder engagements. We have also observed greater transparency in Noble's financial statements in recent quarters including information on fair value gains and associated companies.

Noble's financial statements for 2015 and 2016 also received clean audit opinions from one of the international Big Four accounting firms, Ernst & Young in Hong Kong, that expects robust internal processes to ensure quality auditing.