Singapore “Flyer” of the Week: Noble Group Limited

This week’s Singapore “Flyer” sees one of the components of the Straits Times Index (SGX: ^STI) steal the limelight. Major commodities firm, Noble Group (SGX: N21), surged 13% for the week to close at S$1.205 on Thursday. Established in 1987 and operating in more than 140 locations, Noble is a global supply chain manager of agricultural and energy products, metals, and minerals.

On 27 March 2014, it was made public that two wholly-owned subsidiaries of Noble, Cavendish Mining UK Limited and Cavendish Mining Singapore Private Limited, have been established. The former, as the name suggests, is based in the United Kingdom while the latter is based in Singapore. Separately, on the same day, the firm announced that Next Champion International Limited and East Asset International Limited, both wholly-owned subsidiaries of Noble incorporated in Hong Kong, have been de-registered.

Three days earlier, the firm announced that it had syndicated and arranged a 364-day committed unsecured revolving loan of US$1.35 billion. It will use all amounts borrowed under the facility to refinance part of its existing debt and for its general corporate purposes.

Noble is currently trading at a historical price-to-earnings ratio of close to 30.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.