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Noble rebuts Iceberg's claims

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Published Tue, Feb 17, 2015 · 09:50 PM

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    Reeling

    Singapore

    COMMODITY trader Noble Group on Tuesday defended its financial statements as its shares continued to reel for a second day following accusations of accounting malpractices by Iceberg Research, a little-known research firm. The two-day fall saw its market value plummeting S$1.05 billion

    Iceberg Research had on Sunday published a report that questioned Noble's treatment of certain companies such as Australian coal miner Yancoal as associates, and said the practice "grossly overstated" the value of these companies.

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