Joint Statement by Singapore Police Force, Monetary Authority of Singapore and Accounting and Corporate Regulatory Authority
Singapore, 20 November 2018 The Commercial Affairs Department (CAD) of the Singapore Police Force (SPF), the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) announced today that they are jointly investigating suspected false and misleading statements and breaches of disclosure requirements under the Securities and Futures Act (Cap. 289) by Noble Group Limited, and potential non-compliance with accounting standards under Section 201 of the Companies Act (Cap. 50) by its wholly-owned subsidiary, Noble Resources International Pte Ltd (NRI).
2 ACRA has notified NRI’s Board of Directors that ACRA has made findings of suspected breaches of the Companies Act and has required the directors to furnish further information as part of the ongoing investigation. This follows an extensive review of the financial statements of NRI for the financial years ended 31 December 2012 to 31 December 2016.
3 CAD and MAS have directed Noble Group Ltd and NRI to produce documents relating to the preparation of Noble Group’s financial statements, following a thorough review of other relevant information, including information referred to the authorities by the Singapore Exchange Regulation Pte Ltd and other third parties.
Source: Monetary Authority of Singapore