Noble Group
Hold
OCBC Investment Research, Feb 26
Target price: S$0.39
Feb 26 close: S$0.355
NOBLE Group, as guided, recorded a loss for FY15; this after making impairments against its investments (mainly coal) and its other supply chain assets. Reported Patmi came in at a loss of US$1. 67 billion, which included an exceptional loss of US$1.91 billion. On an adjusted basis, net profit would have been around US$244.2 million, but still down 57 per cent and also about 12 per cent below our forecast. Besides...
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