"MAS will thoroughly investigate potential breaches of the law that have been referred to us by SGX, should SGX's investigations uncover breaches of the law," an MAS spokesperson said. Olam International Ltd, one of the world's largest food commodities traders, came under attack from Muddy Waters in 2012. SINGAPORE (BLOOMBERG) - Francis Tay feels cheated.The former Singapore civil servant says he's lost almost $50,000 in the implosion of Noble Group Ltd, the commodity trading giant. Dec. 30 - Moody’s cuts Noble’s rating to junk status. Troubled Noble Group was saved from insolvency after shareholders approved a $3.5 billion debt restructuring last week, but the company is barely a …
May 13 - Noble clinches $3 billion credit facilities.
The tally includes frequent contact with the company, queries for more detail on its results and its demand that Noble appoint an independent financial adviser to assess the debt-for-equity plan that Tay and others are about to vote on. He also says shareholders like him have been let down by regulators whose job it is to protect them from the sort of crisis that's brought the company to the brink.Yet, the 71-year-old says he still plans to vote in favor of a debt-for-equity restructuring at a "I was cheated of my hard-earned savings," said Tay, who still owns a small amount of shares. Noble Group's collapse from a $6 billion commodity trading firm 3 Min Read (Reuters) - Troubled Noble Group was saved from insolvency after shareholders approved a … Like Tay, he plans to vote in favor of the restructuring.At the special general meeting, shareholders will vote on the plan, which hands 70 per cent of the equity in a revamped company to senior creditors, 10 per cent to management and the rest to existing shareholders, with about half of the debt written off. The company’s shares fall 8 percent. "Other investors have been bruised too. Revenue 2014: $86b Net profit 2014: $133m Operating cash outflows 2014: ($1.2b) Equity: $5.1b Rating: (BBB-/Baa3) Listed in Singapore (SGX:N21) The company's shares fall 8 percent. he said in an interview earlier this month in the run-up to the shareholder vote, adding: "What message does that send to the world about Singapore's reputation? Noble's market value has been all but wiped out from nearly $6 billion in February 2015 when Iceberg Research launched the first of its damaging reports on the company. Feb. 15 - Blogger Iceberg Research publishes the first of many reports on Noble Group, alleging the company inflated its assets, which Noble rejects. 23 - Noble agrees to sell U.S. oil liquids unit to VitolNov. 2015 Feb. 15 - Blogger Iceberg Research publishes the first of many reports on Noble Group, alleging the company inflated its assets, which Noble rejects. 27 - Noble shareholders unanimously approve company’s debt restructuring, clearing the final hurdle. May 22 - Reuters cites sources as saying Sinochem is no longer pursuing purchasing a stake in NobleJune 20 - Noble gets 120-day credit extension from banks; says to skip coupon payment on a closely watched bond.June 22 - Abu Dhabi fund Goldilocks Investment Co discloses 5 percent stake in Noble.July 26 - Noble strikes deal to sell U.S. gas and power business to MercuriaOct.
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