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Noble Group - part owner of Jamalco, under investigation

Singapore authorities have launched an investigation into suspected false and misleading financial statements at Noble Group  the part owner of  the Jamalco alumina refinery.
 
The investigation, which involves the white collar crime unit of  the Singapore police, comes almost four years after a former employee published the first in a series of reports highly critical of  Noble's accounts.
 
The police, the Monetary Authority of  Singapore and the Accounting and Corporate Regulatory Authority said in a joint statement yesterday they were investigating potential false and misleading statements as well as potential non-compliance with accounting standards.
 
They have asked Noble to provide documents.
 
The probe covers the period from 2012 to 2016.
 
The police investigation could disrupt the company's controversial debt restructuring plan, which was entering its final stages after approval by creditors, shareholders and courts in the UK and Bermuda. 
 
Noble Group owns 55 percent of  Jamalco and the Government 45 percent.


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