Noble Group

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Noble Group Limited
Native name
来宝集团
Public
Traded as SGX: CGP
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$46 billion (2016)
Number of employees
1,000 (2017)
Website www.thisisnoble.com

Noble Group Limited (SGX: CGP) manages a portfolio of global supply chains across a range of industrial and energy products. They market, process, finance and transport key commodities, connecting low-cost producing regions with high-demand growth markets. The company is incorporated in Bermuda.


Ratings[edit]

Noble is rated (Caa1) by Moody's Investors Service and (CCC+) by Standard & Poor's.

Milestones[edit]

1997[edit]

Listed on the Singapore Stock Exchange.[1]

2002[edit]

Included in the Fortune 500.

2009[edit]

Beijing's sovereign wealth fund, China Investment Corp (CIC), took a 14.9% stake (573 million shares) in the company. [2]

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

2012[edit]

Completion of Gloucester coal and Yancoal merger.[3]

2014[edit]

Agreement reached for a COFCO-led consortium to acquire 51% of Noble's agricultural business, forming JV Noble Agri.[4]

2015[edit]

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.[5]

Noble recorded net losses of $1.7 billion in 2015.

2016[edit]

CEO Yusuf Alireza resigned on 29 May.

References[edit]

  1. ^ "Noble's SGX IPO Prospectus" (PDF). Thisisnoble.com. Retrieved 2015-07-31. 
  2. ^ "CIC Buys 15% Stake in Noble Group to Gain Commodities". Bloomberg.com. Retrieved 2015-07-31. 
  3. ^ "Proposed Merge". Infopub.sgx.com. Retrieved 2015-07-31. 
  4. ^ "China's COFCO to pay $1.5 billion for stake in Noble's agribusiness". Reuters.com. Retrieved 2015-07-31. 
  5. ^ "Noble rating cut to ‘junk’ as commodities continue to tumble". SCMP. Retrieved 23 May 2017. 

External links[edit]