Commodity trader Noble Group on Monday said it does not want to comment further on allegations hurled by Iceberg Research, having "already commented extensively" on them.
Anonymous researcher Iceberg Research last week launched another negative report about Noble Group, saying the company is walking toward bankruptcy and liquidation and its key traders are leaving.
It also accused Noble of fabricating profit by inflating the value of its contracts by billions.
This comes after Singapore-listed Noble Group warned of a quarterly loss of as much as $1.8 billion last month due to the impairment of the commodity contracts.
Noble Group, which commenced its strategic review earlier this year, also launched a sale of its remaining North American gas and power business and announced it plans to reduce 56 percent of its workforce in a bid to reduce debt.
"The company continues to work with its stakeholders in a constructive manner in order to maximise value for stakeholders in challenging market conditions," it said in a statement.
Shares in the Hong Kong-based company rose 1.3 percent to S$0.375 at 0432 GMT.