You are here

Hot stock: Noble's counter most active in half-day trade

ASIA'S largest commodities trader Noble Group's counter was the most active on Singapore Exchange in half-day trading on Wednesday, with more than 31.6 million shares traded as at 2.20pm.

The counter fell by more than 2.2 per cent or two Singapore cents to S$0.88.

Noble is facing pressure from record bond maturities and closer scrutiny of its earnings amid a global resources rout.

It is looking at about US$1 billion of debt due this year after posting its first quarterly loss since 2011 as commodity prices approached a six-year low.

Anonymous group Iceberg Research was also on its case, alleging that Noble had overstated accounting gains. Noble has denied these claims.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to