Singapore: A simmering spat between a Hong Kong research outfit and one of the city’s top commodities traders is heading to court.
Noble Group has decided to take action against Iceberg Research over three reports it has issued claiming the Singapore-listed financial reporting has not been correct.
“We reject their allegations as inaccurate, unreliable and misleading,” Noble said in a release to the Singapore Exchange today.
Noble said Iceberg was not the independent research house it claims to be.
“Their actions, and their timing, have been calculated primarily to inflict damage rather than to facilitate the distribution of research,” Noble claimed.
Noble said it will start legal proceedings against Arnaud Vagner, a resident in Hong Kong, Enlighten Ace Ltd, a Seychelles company and any associates, at the Hong Kong High Court for conspiracy to injure Noble Group. Vagner had worked with Noble for two years through to 2013.