Noble Group 03 (Feb 15 - Dec 18)

Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Tue May 23, 2017 5:30 pm

not vested

The Noble Rot

By David Ficklin

Any new banking facilities are likely to come at higher interest rates than the existing ones, further weighing on a cost structure that's already out of control.

Improving commodity prices may also pose a problem: Higher prices raise the cost of funding a cargo, pushing Noble harder against the limits of its borrowings.


Source: Bloomberg

https://www.bloomberg.com/gadfly/articl ... yptr=yahoo
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Wed May 24, 2017 9:01 am

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RESPONSE TO SGX QUERIES REGARDING TRADING ACTIVITY

http://infopub.sgx.com/FileOpen/Respons ... eID=455058
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Wed May 24, 2017 9:35 am

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Noble Group: Said that it was not aware of any reason that could confirm a Reuters report that China's state-owned Sinochem was no longer interested in investing in the commodity group on the back of commercial concerns.

The firm was responding to queries by the Singapore Exchange on whether it was aware of any information that could explain the unusual price movements in its shares.

Source: KGI
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Wed May 24, 2017 12:54 pm

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Unfortunately, I was not smart enough to buy at 0.305 today.

It's now 0.42, repesenting a quick 38% profit.

Have to wait for next round then, especially when the "expert" analysts are starting to be brave enough to start commenting again in the various forums.

How come they only comment when Noble is dropping and when it was rising, all remained silent?
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Wed May 24, 2017 3:31 pm

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Range High: 0.485
Range Low: 0.305
% Profit from Range Low: 59%

Pity those guys who sold right at the range low at 0.305 and have now lost 59%. Only they have waited a few more hours.

This is what fear does to you. Makes you sell right at the range low and thereafter, it rises 59% and still rising
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Wed May 24, 2017 9:32 pm

So relevant for Noble Group...

This Pattern Got Us Two Fast Triple-Digit Gains

And the next time could be even better...

By D.R. BARTON, JR.

Source: Money Morning

https://moneymorning.com/2017/05/24/thi ... git-gains/
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Thu May 25, 2017 8:45 am

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Phillip Securities and UOB Kay Hian impose trading restrictions on Noble Group


By PC Lee

Source: The Edge

http://www.theedgemarkets.com.sg/philli ... oble-group
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby behappyalways » Thu May 25, 2017 5:55 pm

Noble Group Foe Muddy Waters Asks When 'Last Wheel' May Fall
https://www.bloomberg.com/news/articles ... tructuring
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby behappyalways » Fri May 26, 2017 11:15 am

Noble Group Dealt Fresh Blow as Fitch Cuts Ratings Yet Again
https://www.bloomberg.com/news/articles ... -yet-again
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Re: Noble Group 03 (Feb 15 - Dec 17)

Postby winston » Fri May 26, 2017 12:21 pm

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Noble Group Downgraded By Fitch Yet Again

By Daniel Shane

Beleaguered commodities trader Noble Group (CGP.SG), whose shares plunged 30% earlier this week, was dealt a fresh body blow as Fitch Ratings cut its debt rating for the second time in quick succession.

Fitch downgraded its credit score on Noble to B- from BB-, or by three levels. That reflects concerns at the ratings agency about Noble’s ability to address debts of USD2 billion to USD2.1 billion set to mature over the next 12 months.

Fitch had only downgraded Noble just over a week ago. Earlier this week S&P Global Ratings similarly downgraded the Hong Kong-based company, prompting investors to kick this stock to the curb.

Here’s more from Fitch:

The continuous negative news about the company and resultant weak sentiment is likely to make refinancing negotiations more difficult than we expected when we last downgraded the company on 16 May 2017, despite the strength of Noble’s balance sheet, with a high working capital/total debt ratio, low portion of secured debt and significant amount of assets available to pledge.

Most immediately, the company has $2bn of secured borrowing base facilities, of which approximately $600m was drawn down as of Q1 2017, which matures in June 2017.

Fitch believes lender banks may be inclined to roll a large part of this facility over, given the company’s high level of liquid working capital available to be pledged, but on less favorable terms.

Noble has been rocked these last couple of years by a broad downturn in commodity prices, as well as allegations of accounting voodoo by short-sellers. The Economist magazine has an excellent write-up this week that chronicles Noble’s misery in detail.

Separately, Noble said on Wednesday that talks with potential investors were still ongoing, which would help the firm in debt refinancing negotiations.

It was reported earlier in the week that Chinese state-owned business Sinochem is no longer interested in making an investment into Noble, citing concerns over the state of the company’s finances. Meanwhile, Morgan Stanley has declared that it owns a stake of 8% in Noble.

The shares were up 2.4% in Singapore trading Friday morning. Noble’s stock has hemorrhaged three quarters of its value since New Year.

Source: Barron's Asia

http://www.barrons.com/articles/noble-g ... 1495767888
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