Anshuman's Feed
Apr 9, 2015

Muddy Waters shorts Noble Group on accounting issues; shares drop 9 percent

SINGAPORE/HONG KONG (Reuters) – Noble Group came under heightened scrutiny on Thursday after U.S. based Muddy Waters unveiled a short position in the Singapore-listed company, which is already under fire from an anonymous research outfit for its accounting policies.

Shares in Noble, one of Asia’s biggest commodity traders, tumbled as much as 9.3 percent to their lowest since September 2013 in heavy trade, and its bonds fell immediately after the report from investment research firm Muddy Waters.

Mar 31, 2015

Asia-Pacific M&As surge in first quarter on Li Ka-shing deal-making spree

HONG KONG/SINGAPORE (Reuters) – The deal-making spree of Hong Kong tycoon Li Ka-shing propelled the value of Asia-Pacific firms’ mergers and acquisitions (M&As) to a record 32 percent of the global total in the first quarter, kicking off what bankers see as a bumper year for Asian deals.

Li’s restructuring of his empire in January and multi-billion dollar purchases of British transport and telecoms firms is likely to be complemented by Chinese and Japanese companies vying for mining and energy targets, cheapened by falling commodity prices, bankers say.

Mar 31, 2015

Asia-Pacific M&As surge in Q1 on Li Ka-shing deal-making spree

HONG KONG/SINGAPORE March 31 (Reuters) – The deal-making
spree of Hong Kong tycoon Li Ka-shing propelled the value of
Asia-Pacific firms’ mergers and acquisitions (M&As) to a record
32 percent of the global total in the first quarter, kicking off
what bankers see as a bumper year for Asian deals.

Li’s restructuring of his empire in January and
multi-billion dollar purchases of British transport and telecoms
firms is likely to be complemented by Chinese and Japanese
companies vying for mining and energy targets, cheapened by
falling commodity prices, bankers say.

Mar 29, 2015

Singapore stands still as nation bids farewell to founding father Lee

SINGAPORE (Reuters) – Grieving Singaporeans were joined by world leaders on Sunday to pay their final respects to the country’s first prime minister, Lee Kuan Yew, as the nation came to a near-halt to honor its “founding father”.

Tens of thousands of people waving flags braved heavy rain and lined the streets to catch a last glimpse of Lee as his coffin was taken by gun carriage on a 15 km procession through the streets of the country he helped build to his state funeral.

Mar 23, 2015

Noble Group seeks court ban on ‘misleading’ Iceberg Research reports

SINGAPORE/HONG KONG (Reuters) – Noble Group Ltd on Monday asked a court to ban an ex-analyst and a firm he is associated with from publishing what it said was false information, after a slew of reports by an obscure research firm shaved off as much as a third of the commodity trader’s market value over the past month.

The injunction, filed at a Hong Kong court, comes after Iceberg Research issued its third report about one of Asia’s biggest commodity traders, saying Noble had substantially understated its gross and net debt.

Mar 19, 2015

Suitors circle Noble after commodity trader’s $1.8 billion market plunge

SINGAPORE/HONG KONG (Reuters) – Singapore-listed Noble Group’s (NOBG.SI: Quote, Profile, Research, Stock Buzz) 30 percent share-slump over the past month has thrust it onto the radar screens of Asian companies that want a bigger clout in global commodities trading, people familiar with the matter said.

Chinese and Japanese companies have held informal talks with investment banks about potentially making approaches to Hong Kong-headquartered Noble, a Singapore-based banker aware of the matter told Reuters, even though founder and top shareholder Richard Elman has been keen on the group staying independent.

Mar 17, 2015

Ex-Singapore leader Lee Kuan Yew’s condition worsens

SINGAPORE (Reuters) – The health condition of Singapore’s founding father and long-serving former leader Lee Kuan Yew, who has been in hospital with severe pneumonia for nearly six weeks, has worsened, the government said on Tuesday.

Lee, 91, is being treated at downtown Singapore General Hospital where he has been on a ventilator. At the end of last month, officials said his condition was improving, but further statements said there had been no change.

Mar 12, 2015

Noble’s concession gives clout to maverick researchers

SINGAPORE (Reuters) – Noble Group’s (NOBG.SI: Quote, Profile, Research, Stock Buzz) vow to be more open after a blogger attacked its accounting is a testament to the growing clout of independent researchers, who have shaken up Asian corporate practices in a way investors and brokerage analysts never could.

Researchers and short-sellers, who bet on stock prices falling, highlight potentially controversial governance and rely on securities traders and media to spread the word for maximum impact. The approach makes up for the lack of an activist investor culture in Asia, where firms’ primary shareholders are often so big that smaller voices go unheard.

Mar 5, 2015

Noble defends timing of writedown, to offer details of accounting

SINGAPORE, March 5 (Reuters) – Commodity trading house Noble
Group Ltd has defended its decision to book an
impairment charge on the day it reported earnings, and said it
would detailing its recently criticised accounting methods in a
bid to reassure markets.

The Singapore-listed group, one of Asia’s biggest commodity
traders, has seen $1 billion wiped off its market value since
Iceberg Research last month said Noble’s accounting methods
inflated the value of its assets – a claim Noble rejected and
blamed on a disgruntled former junior employee.

Feb 27, 2015

CEO exit seen perfect time for Singapore bourse to lose regulatory role

SINGAPORE, Feb 27 (Reuters) – Singapore Exchange Ltd (SGX)
may have just begun its search for a new CEO but
investors and brokers already know what change they want to see:
the bourse stripped of its regulatory powers and a rebuilding of
its stock market business.

Unlike other major financial markets, Singapore does not
have a dedicated securities watchdog. Instead SGX is the
front-line regulator and is in turn regulated by the central
bank, the Monetary Authority of Singapore.

    • About Anshuman

      "Anshuman Daga has been with Reuters since 13 years, most of that tracking companies and equity markets. After joining in Mumbai, Anshuman did a stint in India's technology hub of Bangalore and then spent a few years covering European stock markets in London. He moved to Singapore in 2008, with a focus on news coverage of Southeast Asia and technology stories from Asia."
    • Follow Anshuman