Noble's balance sheet still unreliable: Iceberg

Singapore

ICEBERG Research issued another fresh attack on Noble Group on Tuesday, claiming that the commodity trader's balance sheet numbers are still unreliable, and that the contracts Noble recently signed with Mkango Resources are questionable.

In an open letter addressed to Noble's creditors, the research outfit maintained that Noble is overly-optimistic on the valuation of its remaining assets again, and that its liabilities have been "drastically undervalued".