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MAS says reviewing statements in research report on Noble

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Iceberg Research, whose report on commodity trading firm Noble Group is now under investigation by the Monetary Authority of Singapore (MAS), took to the development coolly, even while Noble welcomed the review.

[SINGAPORE] The Monetary Authority of Singapore said it was reviewing a report by Iceberg Research that claimed Asian commodity trading firm Noble Group used aggressive accounting to mislead investors. "MAS will take appropriate action if there are breaches of the SFA," it said in an email to Reuters, referring to the Securities & Futures Act.

Noble, which is listed in Singapore but based in Hong Kong, has rejected the little-known research firm's allegations made in a report posted online on Sunday.


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