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Most importantly, in Mr Dee's perspective, Noble still has not proven that its "inventory sales" are not really repos with banks.
"I challenge Noble to tell us how many inventory sales they have done over the last three years and how many were not repurchased by the banks," he said. "Until then, I will continue to believe they are repos, and repos are debt ... Noble needs to tell the truth, and nothing but the truth."
Noble tells more but critics left unconvinced
http://www.businesstimes.com.sg/companie...nconvinced
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09-05-2015, 10:05 AM
(This post was last modified: 09-05-2015, 10:08 AM by getrich.)
(08-05-2015, 07:45 PM)BlueKelah Wrote: Noble saga: Ball is in regulator's court
It is now time for the regulators at the Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) to step in. They should immediately suspend the stock until all questions are fully answered by the founder, CEO, CFO, chairman of the audit committee and the EY auditors. No more claims of confidentiality, no more "specter valuation" models, no more last-minute impairments, no more denials.]
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Found this other article by Dee with similar mention of SGX to step in
If regulators really step in ah, then Noble will really be very jialat liao. By then the issue won't be what PE or what support level.
This whole Noble saga is really weird. Firstly, everyone, including Iceberg, agrees that there have been no accounting fraud committed, so how to get regulators involved?
Secondly, a lot of controversy surrounding Noble is about disclosure of information --- inventory repos and MTM fair value gains, etc. Mike Dee, as a seasoned and high-ranking ex-investment banker, should know that SGX has wide-ranging powers to determine what is material info and to compel listed companies to disclose said material information. So why is Mike Dee even advocating that SGX suspend the stock to force the info out of Noble? And more importantly, why hasn't anyone in the industry jumped out and says, "nope, nuclear option not required. Existing regulatory framework already allows SGX to query and force companies to disclose material information."
Lastly, this is just my personal opinion, but I think Noble has really done a poor job of defending itself.
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(08-05-2015, 04:37 PM)Reyes Wrote: PE to me is still high, technical wise. might hit a support near 0.82. (although support might break) 
technical wise I think this share should be 0.55-0.60 closer to where the valuations / PEs for Olam, etc !!
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haha this is another lvl im looking at.
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15-05-2015, 08:41 AM
(This post was last modified: 15-05-2015, 08:42 AM by Behappyalways.)
Carson Block: Noble Group Is a 'Very Bad Company'
http://www.bloomberg.com/news/videos/201...ad-company-
not vested
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Do you find it interesting? 
I have skipped commodity trading stocks, because the business model is pretty difficult to understand for me...
Noble Group offers ‘interesting value,’ says hedge fund manager
NEW YORK (May 15): Noble Group ( Financial Dashboard), the commodity trader whose accounting has been criticized by research companies including short-seller Muddy Waters, offers stock investors “interesting value”, according to one hedge fund manager.
Dwight Anderson, founder of commodities hedge fund Ospraie Management, named Noble among stocks that may be worth holding.
While “there’s no doubt they were too aggressive on their accounting, it’s a company that relative to its balance-sheet earnings I think is actually a really interesting value,” he said in an interview with Bloomberg Television in New York on Thursday.
Noble said last month it will make its financial reports more transparent while rejecting criticism of its accounting practices.
...
http://www.theedgemarkets.com/sg/article...nd-manager
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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Not the time to jeep. But will keep monitoring for Noble
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16-05-2015, 08:36 PM
(This post was last modified: 16-05-2015, 08:37 PM by vesfreq.)
(15-05-2015, 09:41 AM)Reyes Wrote: Not the time to jeep. But will keep monitoring for Noble
Latest announcement.
http://www.sgx.com/wps/portal/sgxweb/hom...ouncements
Prudential up their stakes. :|  Deemed interest 7 percent, after the share purchase.
Not vested. Thinking..... hard.
The thing I am scared most is not nightmares or market crashes..... Its my greed that I fear the most.
When people ask what is my target price, I never have any good answer for it because Philip Fisher said before (in Common Stock Uncommon Profit) that the best time to sell is never. Equity investment is buying into ownership, not betting slips.
The path to greatness and wealth is necessarily dangerous.... because greed is a fearsome fore that threatens your success at every step.
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(16-05-2015, 08:36 PM)vesfreq Wrote: (15-05-2015, 09:41 AM)Reyes Wrote: Not the time to jeep. But will keep monitoring for Noble
Latest announcement.
http://www.sgx.com/wps/portal/sgxweb/hom...ouncements
Prudential up their stakes. :| Deemed interest 7 percent, after the share purchase.
Not vested. Thinking..... hard.
Prudential manages OPM , we manage ours.
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more and more supporting liao... =)
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