Will New Noble be more of the same?
It'll a tough sell with the current management team remaining in place.
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
ON March 14, the board of directors of Noble Group ("Noble") announced the signing of a binding restructuring support agreement ("the RSA") in relation to its proposed financial restructuring. Central to the proposed restructuring is the creation of a new company called New Noble to be listed on the Singapore Exchange.
Noble's corporate governance and transparency has arguably become worse since I published a highly critical commentary, particularly about its board of directors and its remuneration policies and disclosures, following the attack by Iceberg Research ("Noble should pay heed to its corporate governance", BT, June 24, 2015). Unfortunately, the New Noble promises to be much like the old one.
FLAWED NOMINATING PROCESS
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
