PwC report unlikely to be enough to satisfy market

PwC report unlikely to be enough to satisfy market

R Sivanithy

12 August 2015

Business Times Singapore

AFTER an encouraging early bounce to S$0.645, Noble Group’s shares on Tuesday finished S$0.01 weaker at S$0.57, a disappointing outcome for those who might have been hoping that a positive assurance report by accountants PricewaterhouseCoopers (PwC) on Noble’s accounting practices would have been enough to answer Noble’s critics – namely, Iceberg Research, which issued its first critique in February, short-seller Muddy Waters, which emerged soon after, and former investment banker Michael Dee. Continue reading