When silence is not golden

A MONTH into 2018 - and already several cases of tardy and non-disclosures by companies listed on the Singapore Exchange (SGX) have dominated headlines.

First, there is Noble Group - the Hong Kong-based commodities group which is haemorrhaging and fighting for survival.

Debtwire reported on Jan 25 that Noble might be nearing a deal to restructure its US$3.5 billion debt, with a debt-to-equity swap.

Noble subsequently clarified that no agreement had been reached yet. But four days later, it confirmed that it had struck a deal with creditors, details of which had been reported by Debtwire.

Its US$3.5 billion debt will be restructured in exchange for 70 per cent of the company, with exist…