Noble sells stake in Indonesia coal services firm for US$1

Singapore

STRUGGLING commodity trader Noble Group has sold off its 45 per cent stake in an Indonesian coal logistics service firm for US$1 - a consideration arrived at by taking into account the disposal of a non-core business, said the group in an exchange filing on Thursday.

The sale shares of PT Borneo Sejahtera Mulya (BSM) had zero book value and net tangible value based on its financial statements for the period ended May 31, it added.

PT BSM's value has fallen significantly in recent years, as the In…