honestly, MAS's silence is deafening, despite the uproar
Hyflux and NobleInvestors were referred to the Consumer Issues Division, which give standard replies to both group of investors, claiming that these were "commercial issues", investors should "consult your stockbroker or other professional adviser to determine the best course of action".
Even bloomberg posted an article today, citing the evil-intent of Noble's management:
https://www.bloomberg.com/news/arti...oble-s-restructuring-plan-is-raising-concerns
One incident that has prompted investors to raise questions was Noble’s sale of a $750 million bond due 2022 in March 2017, just two months before the company posted a surprise net loss.
The loss prompted queries on whether there was sufficient bond investor disclosure and at that time, MUFG Securities Asia Ltd. said that investors “may well” question the extent
Noble’s management knew of the loss. On page 5 of the restructuring term sheet, the clause states that the arrangement provides the
“full release of any and all other claims” that any senior creditor may have against Noble Group, its management, directors, advisers, agents and representatives in relation to its existing senior debt.
“Such language aims to absolve Noble, its advisers and representatives from claims or legal action related to its senior creditors’ pre-existing debt securities,” said Basil Hwang, a managing partner at Hwang Hauzen LLP, who specializes in financial regulation.
“If they sign it, they likely won’t be able to sue Noble, its auditors or the underwriters of its bonds,” said Alex Turnbull, Singapore-based managing partner at the hedge fund and a former Goldman Sachs Group Inc. banker.