I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Wednesday, 14 November 2012

Noble Slides After Vice Chairman Sells Stake: Singapore Mover


By Michelle Yun

Noble Group Ltd. (NOBL) slipped to a three- month low in Singapore trading after Vice Chairman Emeritus Harindarpal Singh Banga sold a 3.5 percent stake in the commodity supplier that reported lower-than-expected earnings last week.

Noble fell 7.3 percent after Banga offered 225  million shares for sale at a discount of as much as 5.6 percent to Noble’s previous close. Excluding the stake, 71 million shares changed hands as of 12:40 p.m. local time, compared with average daily volume of 45.5 million in the past year.

“It’s not a good sign when a director sells,” said Mervin Song, an analyst at DBS Vickers Securities (Singapore) Pte. in Singapore. “He would know more than most people.” Stephen Brown, spokesman for Hong Kong-based Noble, said the company wouldn’t comment on Banga’s private sale. Banga wasn’t immediately available when a call was made to his office.

Noble, Asia’s biggest publicly listed commodity trader, reported third-quarter profit of $75.2 million on Nov. 8, missing the $154.6 million mean estimate of seven analysts. Earnings at Noble’s three units - agriculture, energy and metals - fell short of their expectations, Macquarie Capital Securities (Singapore) Pte. said that day in a report.

The stock dropped as much as 8.2 percent to S$1.07 in Singapore and was down at S$1.08 at 12:51 p.m. local time. The benchmark Straits Times index lost 0.6 percent.

A block trade of 225 million shares crossed at 8:31 a.m. in Singapore at S$1.10 apiece after Banga offered to sell the stake at S$1.10 to S$1.12 each, according to a term sheet obtained by Bloomberg News.

Banga, who sold 115 million shares in March, owned 372.5 million shares, or about 5.7 percent of Noble, before the latest sale, data compiled by Bloomberg show.

Banga offered his shares through Lexdale International, which is controlled by Banga and his spouse, according to the company’s annual report.


 

No comments:

Post a Comment

Related Posts with Thumbnails