No­ble shares drop af­ter loss warn­ing

New Straits Times - - Business -

SIN­GA­PORE: No­ble Group Ltd’s shares fell af­ter it warned of a first-quar­ter loss and as S&P Global Rat­ings said the firm’s debt-load is un­sus­tain­able given its cur­rent earn­ings path. Shares of the com­pany slumped as much as 23 per cent to S$0.99 (RM3.05) and was at S$1.01 at 2.11pm here. No­ble said on Tues­day it would record a US$130 mil­lion (RM565 mil­lion) net loss in the first quar­ter af­ter wrong-way bets on coal prices and less liq­uid­ity, com­pared with a profit of US$40.5 mil­lion a year ago. Agen­cies

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