Singapore’s Noble Queries Focus on Mark-to-Market Gains
- Restructuring hangs in balance after regulators launched probe
- Noble pushed back deadline for debt deal to address concerns
Photographer: Nicky Loh/Bloomberg
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Singaporean regulators investigating Noble Group Ltd. have focused their questions so far on the company’s use of mark-to-market accounting, according to people familiar with the matter.
The struggling commodity trader was thrown into fresh crisis last week after Singapore announced a three-agency probe into Noble’s accounts just days before a marathon $3.5 billion debt restructuring was due to complete. On Sunday, Noble said it would delay the deadline for that deal to Dec. 11 to "fully address all concerns of the regulators."