Shares in Singapore-listed Noble Group tumbled dramatically again today as the commodities giant was slapped yesterday with a ‘trade with caution’ notice from the Singapore Exchange.
Noble’s share price has suffered its biggest monthly drop ever. The shares are down 40% in July, and have lost nearly two-thirds of their market value since mid-February when a Hong Kong-based Iceberg Research issued a scathing report on the group’s accounting practices, something Noble, founded by Richard Elman (pictured), has since strenuously denied.
The commodity trader sank to 44.5 cents, down 7.5 cents or 14.4%, at around 11:50am this morning, having plunged 12% yesterday.
