Noble Group challenged over mark-to-market accounting

A mysterious organisation called Iceberg Research has accused Noble Group of inflating the mark-to-market values of long-dated commodity trades. The Hong Kong-based trading firm is fighting back, but can't seem to put the controversy to rest

Yusuf Alireza - Noble Group
Yusuf Alireza, Noble Group

It has been a gruelling year for Noble Group, the Hong Kong-based commodity trading firm. Over a period of five weeks in February and March, a mysterious entity called Iceberg Research published three detailed reports attacking Noble's accounting practices. Among other things, the reports alleged that Noble had inflated the valuation of its 13% stake in Yancoal, an Australian coal miner, and had used aggressive mark-to-market accounting to pump up the value of long-term commodity transactions

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here