Noble Group

Noble Group Limited
Public
Traded as SGX: N21
Industry Conglomerate
Founded 1986
Headquarters Hong Kong
Key people
 Richard Samuel Elman (Chairman), William James Randall (Co-CEO), Jeffrey Scott Frase (Co-CEO)
Products Agriculture, Energy, Metals, Minerals, Logistics
Revenue US$67 billion (2015)
Number of employees
 1,500 (2015)
Website www.thisisnoble.com

Noble Group Limited (SGX: N21) is a physical commodities trader. Sourcing bulk commodities from low cost regions such as South America, South Africa, Australia and Indonesia, the Group supplies high growth demand markets, particularly in Asia and the Middle East. The company was ranked number 76 in the 2014 Fortune Global 500.[1] The company is currently incorporated in Bermuda.

Ratings

Noble is rated (B2) by Moody's Investors Service and (B+) by Standard & Poor's.[2]

Milestones

1997

Listed on the Singapore Stock Exchange.[3]

2002

Included in the Fortune 500.

2009

Beijing's sovereign wealth fund, China Investment Corp (CIC), took a 14.9% stake (573 million shares) in the company. [4]

CIC cut its stake to less than 10% in 2014.

2012

Completion of Gloucester coal and Yancoal merger.[5]

2014

Agreement reached for a COFCO-led consortium to acquire 51% of Noble's agricultural business, forming JV Noble Agri.[6]

2015

Noble's share price tumbled 65% as it suffered from criticism of its accounting practices, while its credit rating was downgraded to junk. The remaining 49% of its agricultural business was also sold.[7]

Noble recorded net losses of $1.7 billion in 2015.

2016

CEO Yusuf Alireza resigned on May 29th.

References

  1. ↑ "Noble Group - Global 500 2014". Fortune.com. Retrieved 2015-07-31.
  2. ↑ Bloomberg (2016-06-16). "Noble Group Credit Rating Cut by S&P Despite Cash Raising". Bloomberg.com. Retrieved 2016-10-07.
  3. ↑ "Noble's SGX IPO Prospectus" (PDF). Thisisnoble.com. Retrieved 2015-07-31.
  4. ↑ "CIC Buys 15% Stake in Noble Group to Gain Commodities". Bloomberg.com. Retrieved 2015-07-31.
  5. ↑ "Proposed Merge". Infopub.sgx.com. Retrieved 2015-07-31.
  6. ↑ "China's COFCO to pay $1.5 billion for stake in Noble's agribusiness". Reuters.com. Retrieved 2015-07-31.
  7. ↑ SCMP http://www.scmp.com/business/companies/article/1896650/noble-rating-cut-junk-commodities-continue-tumble?utm_source=edm&utm_medium=edm&utm_content=20151231&utm_campaign=scmp_today. Retrieved 30 December 2015. Missing or empty |title= (help)
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