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Singapore authorities reviewing research report on Noble

Singapore authorities reviewing research report on Noble
A research report into Noble Group, that alleged it manipulated its accounts to mislead investors, is being reviewed by the Monetary Authority of Singapore (MAS).

The report by Iceberg Research published on Sunday caused Noble’s shares to fall nearly 8% on the Singapore Exchange on Monday. "MAS will take appropriate action if there are breaches of the SFA (Securities & Futures Act)," Reuters reported.

In a statement to SGX Noble said, “Noble welcomes this development and will fully co-operate with, and fully support, the MAS investigation.”

To date it is the only report published by Iceberg Research.