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  4. Singapore financial regulator imposes $9 million fine on commodity trader Noble Group
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Singapore financial regulator imposes $9 million fine on commodity trader Noble Group

(Reuters) - Commodity trader Noble Group Ltd will pay a S$12.6 million ($9.03 million) penalty for releasing 'misleading' information in its financial statements between 2012 and...
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Singapore financial regulator imposes $9 million fine on commodity trader Noble Group © Reuters. FILE PHOTO: A Noble Group sign is pictured at a meet-the-investors event in Singapore August 17, 2015. REUTERS/Edgar Su/File Photo

(Reuters) - Commodity trader Noble Group Ltd will pay a S$12.6 million ($9.03 million) penalty for releasing 'misleading' information in its financial statements between 2012 and 2016, the Monetary Authority of Singapore said on Wednesday.

The company, which was once the biggest commodity trader in Asia, saw its market value all but wiped out from $6 billion in 2015 after accusation of inflating its assets, forcing it to sell billions of dollars of assets, taking hefty writedowns and cut hundreds of jobs.

Singapore's Accounting and Corporate Regulatory Authority, also issued warnings to two former directors of Noble Resources International Pte Ltd, which was Noble Group's unit at the time, for failing to prepare and table financial statements in compliance with the country's standards.

Noble Resources Trading Holdings Ltd, which was formed in 2018 as a part of Noble Group's reorganisation and has since been under new ownership and management, in a separate statement welcomed the conclusion of the investigation.

"We are looking forward to continuing to work with our suppliers and serve our customers, building on the strong start to 2022," it added.

($1 = 1.3950 Singapore dollars)

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

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↑ Sell

Moving Avg:

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Indicators:

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GBP/USD

1.2475

-0.0015 (-0.12%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

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Indicators:

Buy (9)

Sell (0)

AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

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Buy (10)

Sell (2)

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USD/CAD

1.3780

+0.0003 (+0.03%)

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↑ Buy

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EUR/JPY

168.32

+0.10 (+0.06%)

Summary

↑ Buy

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

Summary

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Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

-0.0105 (-0.23%)

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81.14

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Brent Oil Futures

85.62

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213.73

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

-80.48 (-1.57%)

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DAX

17,921.95

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FTSE 100

8,144.13

-2.90 (-0.04%)

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Hang Seng

17,763.03

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US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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IBEX 35

10,854.40

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27.35

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
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USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
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