Noble Group chairman Richard Elman has shown his confidence in the hard hit commodities giant with a major investment in its shares.

The founder of the Hong Kong-based company founder has bought 10m shares for SGD3.2m ($2.2m), regulatory disclosures show.

Elman’s latest share purchases lift his stake in the company, which has seen its shares slump to their lowest level since 2008, to 22.13%.

The