Can Noble Group turn the tide and weather the storm? The embattled commodity trader is currently fighting for its life as it faces an epic swim-or-sink battle. The latest financial results revealed that the nightmare, which started two years ago, is set to continue.
Once the brightest star in the Singapore stock market, Noble Group market capitalization was worth a mighty $10 billion. In its heyday, Noble Group reigned supremacy and was even regarded as the world’s top commodity trader, alongside rival Glencore. For Singapore Exchange (SGX), it was indeed an honour for Noble Group to be listed in Singapore, even though it is a Hong Kong-based company.
Those good old days must be dreamy for investors now as its market capitalization has shrank to an alarming $460 million. The rot started two years ago …