Noble is the focus point, of both investors, and the regulator...
SGX says will monitor situation at Noble, notes disclosure plans
SINGAPORE (Aug 3): Singapore Exchange (SGX) ( Financial Dashboard) will continue to monitor developments in Noble Group ( Financial Dashboard) and noted the group's plans to provide additional disclosures.
"We stand ready to take action against any market misconduct including any suspected manipulation and will work with the relevant authorities as appropriate,'' SGX says in a statement released on Monday.
The exchange noted Noble's announcements early Monday, which included plans to provide further disclosures around the Yancoal valuation and on the inventory sales.
SGX had noted unusual trading of Noble shares on July 30 and had issued a public query to troubled commodities trader, which had replied that it was not aware of any reason that could explain share trading activities. SGX subsequently issued a "Trade with Caution" warning.
http://www.theedgemarkets.com/sg/article...sure-plans
Like I say this mata is clueless and hopeless... they are always behind the curve... where are they when Mano didn't get his questions answered at the AGM?
Now share price 0.48 of course must be seen to say something... otherwise 4.8 cents all man in the streets will cry father, cry mother and SIAS will also be activated...
The episode is all too familiar?
(03-08-2015, 03:50 PM)CityFarmer Wrote: [ -> ]Noble is the focus point, of both investors, and the regulator...
SGX says will monitor situation at Noble, notes disclosure plans
SINGAPORE (Aug 3): Singapore Exchange (SGX) ( Financial Dashboard) will continue to monitor developments in Noble Group ( Financial Dashboard) and noted the group's plans to provide additional disclosures.
"We stand ready to take action against any market misconduct including any suspected manipulation and will work with the relevant authorities as appropriate,'' SGX says in a statement released on Monday.
The exchange noted Noble's announcements early Monday, which included plans to provide further disclosures around the Yancoal valuation and on the inventory sales.
SGX had noted unusual trading of Noble shares on July 30 and had issued a public query to troubled commodities trader, which had replied that it was not aware of any reason that could explain share trading activities. SGX subsequently issued a "Trade with Caution" warning.
http://www.theedgemarkets.com/sg/article...sure-plans
IMO, the level of intervention is right, till to-date.
(03-08-2015, 04:15 PM)greengiraffe Wrote: [ -> ]Like I say this mata is clueless and hopeless... they are always behind the curve... where are they when Mano didn't get his questions answered at the AGM?
Now share price 0.48 of course must be seen to say something... otherwise 4.8 cents all man in the streets will cry father, cry mother and SIAS will also be activated...
The episode is all too familiar?
(03-08-2015, 03:50 PM)CityFarmer Wrote: [ -> ]Noble is the focus point, of both investors, and the regulator...
SGX says will monitor situation at Noble, notes disclosure plans
SINGAPORE (Aug 3): Singapore Exchange (SGX) ( Financial Dashboard) will continue to monitor developments in Noble Group ( Financial Dashboard) and noted the group's plans to provide additional disclosures.
"We stand ready to take action against any market misconduct including any suspected manipulation and will work with the relevant authorities as appropriate,'' SGX says in a statement released on Monday.
The exchange noted Noble's announcements early Monday, which included plans to provide further disclosures around the Yancoal valuation and on the inventory sales.
SGX had noted unusual trading of Noble shares on July 30 and had issued a public query to troubled commodities trader, which had replied that it was not aware of any reason that could explain share trading activities. SGX subsequently issued a "Trade with Caution" warning.
http://www.theedgemarkets.com/sg/article...sure-plans
maybe SGX is still waiting for a "white night rescue" for Noble.
If Noble accounting is really badly fraudulent and there is no money left in the company, and then this is reported by bloomberg and get international press coverage making Singapore financial sector lose face. I am sure more concrete steps will be taken by SGX and some people will be going straight to jail...
regulators are usually "slow one clap" and only make new rules and become more strict only after bad things have already happened.
(04-08-2015, 09:06 AM)BlueKelah Wrote: [ -> ]maybe SGX is still waiting for a "white night rescue" for Noble.
If Noble accounting is really badly fraudulent and there is no money left in the company, and then this is reported by bloomberg and get international press coverage making Singapore financial sector lose face. I am sure more concrete steps will be taken by SGX and some people will be going straight to jail...
regulators are usually "slow one clap" and only make new rules and become more strict only after bad things have already happened.
I used to have similar view, but realized now, the regulator isn't god, who has a perfect foresight to pin white-collar criminals down, before any damage. Regulator is like any of us, who need to follow rules and regulations. Rules and regulations need benefit of doubt, to avoid damages of mistakes.
Just look at the many con jobs by S chips management , what have they done to them ? Some of the them just walked away with the investors monies, as good as legal robbing.
That's was the problem before even the ang mo. Basically it seems the model is not viable.
Thank you Noble for the kopi money. Just sold off my puny stake.
(04-08-2015, 03:09 PM)Bibi Wrote: [ -> ]Thank you Noble for the kopi money. Just sold off my puny stake.
Wow why did it gap up so much... 25% ??
