ENERGY & OFFSHORE | Staff Reporter, Singapore

Noble Group mum on Iceberg's allegations

The research firm said Noble is sinking in a perfect storm.

After receiving a backlash from Iong-time foe Iceberg Research which predicted that the company will probably fail, Noble Group remained silent and said it would not comment on the allegations.

"The company has already commented extensively on allegations raised by Iceberg and does not propose to comment further on these statements. The Company continues to work with its stakeholders in a constructive manner in order to maximise value for stakeholders in challenging market conditions," Noble said in a statement.

Bloomberg Markets quoted Iceberg Research saying the company is walking toward bankruptcy and liquidation.

“Noble is sinking in a perfect storm...Noble is losing the confidence of its counterparties and of its banks. Key traders are leaving," the researcher said.

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