Noble Q1 profit falls 62% on capital constraints
Group says it has successfully arranged for two credit facilities totalling US$3b
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
NOBLE Group's earnings slumped 62 per cent in the first quarter as it placed priority on liquidity over profitability, leading to constrained business operations.
And even as it announced on Thursday the successful close of two credit facilities amounting to US$3 billion, a significant drop in trade payables, or the amount it owes to suppliers, as a result of tighter bank lines in the quarter raised concern among analysts.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
