Noble Group *Official* (SGX: CGP)

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Got chance for heal liao. Who added yest?
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Sent from your next door using GAGT
 
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Milo-Dino

Milo-Dino

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havetheveryfun said:
got such a thing one ah?

means if u the only buyer at 0.45 and there is only one seller at 0.44, u will buy at 0.44 and not 0.45 ?
Click to expand...
yes la.. they will match most desperate buy with most desperate seller in that sense

he probably did the 8:58am matching of 44c lor

If now I key to buy keppel corp at $10, it will get done at $6++
 
Shion

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Noble Group ‘confident’ of meeting Moody’s targets in review

Noble Group ‘confident’ of meeting Moody’s targets in review

http://www.theedgemarkets.com/sg/article/noble-group-‘confident’-meeting-moody’s-targets-review

SINGAPORE (Nov 17): Noble Group said that it will be able to meet targets from Moody’s Investors Service after the agency placed the company’s ratings under review for a downgrade, raising the possibility the commodity trader may be cut to junk. The stock reversed initial gains.

“We have always achieved our investment-grade rating targets,” spokesman Stephen Brown said in an e-mailed response to questions on Tuesday, citing the company’s quarterly results last week, including a return to positive cash flow. “We remain confident of achieving Moody’s targets.”

The review by Moody’s comes as commodity companies are grappling with slumping raw-material prices and Noble faces the additional challenge of fending off criticism of its accounting practices. Last week, Noble reported an 84% drop in quarterly profit and said it was looking to raise about US$500 million ($711 million) through asset sales or from a strategic investor. Moody’s said the results showed the company’s liquidity is still under pressure.

Moody’s Focus
“The rating review is triggered by Noble’s weaker-than- expected liquidity profile and its still-high leverage,” Joe Morrison, vice president and senior credit officer, said in a statement on Monday after the close of trade. The review over the next two to three months will focus on Noble’s ability to improve its liquidity headroom and cash flow generation, raise capital and reduce leverage, Moody’s said.

Noble Group shares gained as much as 3.5% to 45 cents, then dropped to 43 cents at 3.18pm local time, 1.2% lower. The stock remains this year’s worst performer on the Straits Times Index after losing 62%.

“Investors could have potentially already priced in the possibility of a downgrade,” Bernard Aw, a strategist at IG Asia Pte in Singapore, said by phone. “Any fallout from this actual move by Moody’s may not actually elicit much downside impact.”

Industry Environment
At present, Moody’s rates Noble at Baa3, the lowest investment grade, while Standard & Poor’s has a BBB- rating, one notch above junk. The negative industry environment may continue to have an adverse effect on Noble’s liquidity and operations, Moody’s said in the statement on Monday. The Bloomberg Commodity Index traded on Tuesday near the lowest since 1999.

Chief Executive Officer Yusuf Alireza said in August that while Noble will do what’s required to support the investment grade, it’s not required for the business. Last week, Alireza told analysts the impact of a potential downgrade would be insignificant in terms of the additional margin required, estimating the sum at between US$100 million and US$200 million. The CEO has also repeatedly rejected the criticism of its accounts, while pledging to increase transparency.
 
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