Ex-Temasek executive warns debt deal won't fix Noble Group

(Aug 28): Noble Group’s foes aren’t going away. Less than 24 hours after the commodity trader won shareholder approval for its US$3.5 billion ($4.77 billion) debt-for-equity deal, long-standing critic Michael Dee said the revamped company will struggle to recover and shouldn’t be allowed to list shares in Singapore.

“I really don’t believe that we’re going to be in any different situation,” Dee, a former senior managing director at Singapore state investment firm Temasek Holdings, said in a Bloomberg Television interview on Tuesday. “The interest rate on the debt is way too high for a commodity trader,” he said.

See: Noble Group's shareholders vote in favour of debt restructuring

---

Related Stories

• Banks in Singapore can withstand multiple shocks: MAS
• Changes in ICR, leverage to come into effect immediately, with additional disclosures in March
• MAS Financial Stability Review shows local banks can withstand multiple shocks

---