No thanks to the disposal of its global oil and North American unit.
Noble Group Limited (NGL) expects to be hit by a total net loss of US$4.78b to US$4.98b in 2017.
According to an SGX announcement, it expects a loss of US$1.72b to US$1.93b in Q4. This comprises a US$50m-US$100m loss from its hard commodities, freight, and liquefied natural gas (LNG) operations, a US$225m-US$275m loss from its halted global oil liquids and North American unit, and a US$1.45b-US$1.55b loss from other "exceptional items."
NGL said it struggled with the management of its business as it faced limits in trade finance and liquidity availability.
The company focused on its asset disposal programme and moving forward with its debt restructuring.
However, NGL said it believes that the restructuring "should restore shareholders’ equity and create a sustainable capital structure which will allow the Group to rebuild its business in Asia."
NGL will release its financial statement on 28 February 2018.
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