"Conservative liquidity management, scaling back of risk positions and constraints placed on the Group's access to trade finance lines led to disruption costs and prevented the Group from taking advantage of profitable opportunities," the Singapore-listed company said in a statement on Thursday.
SINGAPORE (Aug 10): Commodities trader Noble Group reported a second quarter loss of US$1.75 billion ($2.4 billion) on Thursday, its biggest in 1-1/2 years which it had flagged last month, as well as a rise of more than US$900 million in net debt in the first half.
Once Asia's largest commodities trading house, Noble is slimming down to its core Asian coal-trading business. Last month, it announced the sale of its US gas and power business and began a process to sell its oils liquids unit.
