Noble Group
| Company type | Private |
|---|---|
| Industry | Commodity trading |
| Founded | 1997 |
| Headquarters | Hong Kong , Hong Kong |
| Products | Energy commodities, industrial raw materials |
| Website | www |
Noble Resources Trading Holdings Limited—widely recognized as Noble Resources—is a commodity trading firm headquartered in Hong Kong, with a focus on energy commodities and industrial raw materials. Its antecedent, Noble Group Ltd, became embroiled in an accounting scandal starting in 2015, which necessitated a major debt restructuring.
History
The company made its debut on the Singapore Stock Exchange in 1997.
By 2002, it had secured a position on the Fortune 500 ranking.
In 2009, the sovereign wealth fund of China, China Investment Corp (CIC), purchased a 14.9% equity interest, amounting to 573 million shares.
The merger involving Gloucester coal and Yancoal was finalized in 2012.
By 2014, CIC had decreased its ownership stake in Noble Resources to under 10%.
A joint venture named Noble Agri was established after a consortium led by COFCO Group acquired a 51% share of Noble's agricultural division.
Accounting fraud controversy and restructuring (2015–2019)
Allegations of accounting irregularities by Iceberg Research in 2015 caused Noble’s stock value to sharply decline, triggering a downgrade to junk credit status. During the same year, the company divested its remaining 49% interest in the agricultural sector and reported net losses totaling $1.7 billion.
On 29 May 2016, founder Richard Elman dismissed CEO Yusuf Alireza; Alireza subsequently initiated legal action against Noble for compensation in 2017.
Following a nearly complete collapse of its share price—down by 99% since the fraud claims—Noble Group Ltd was delisted from the Singapore Stock Exchange in 2018. The company declared default and undertook a $3.5 billion restructuring plan that led to the creation of Noble Group Holdings Ltd. Concurrently, the Bermuda-registered Noble Group Ltd entered winding-up procedures throughout 2019. The Singapore Stock Exchange declined to approve the relisting of the restructured entity due to ongoing financial uncertainties. Meanwhile, Singapore authorities commenced a criminal investigation into alleged misconduct associated with Noble Group Ltd.
In 2019, Noble concentrated efforts on revitalizing its liquefied natural gas (LNG) segment through key strategic recruitments.
On 1 January 2025, Vitol completed full acquisition of Noble.