Daily Briefing: Noble shares plunge following $1.8b loss warning; 2 REITs to benefit from Changi Terminal 4 opening

And Frasers' Northpoint City on track for soft opening in 4Q17.

From AFP News via Yahoo!: Shares in troubled commodities trader Noble Group plunged at much as 49 percent Thursday after it warned of a quarterly loss of up to $1.8b and announced further asset sales as the firm struggles for survival. The company released a restructuring blueprint after the market close on Wednesday in which it warned investors of the massive net loss for the second quarter, with further cost-cutting seen to slash its headcount to 400 from 900 currently. Noble, which is based in Hong Kong but listed in Singapore, posted a loss of $130m in the first quarter.

From Shares Investment via Yahoo!: After suffering from weakness in tourist arrivals and rising supply of hotels, the hospitality sector in Singapore seems to be on track for recovery this year. Several demand drivers are in place that will be beneficial towards the sector. With visitor arrival growing 7.7% year-on-year (YoY) in 2016, the year to date (YTD) growth stands at 4.4% YoY (April 2017). In addition to this, there are several factors in place to drive the sector’s growth.

From Yahoo!: Frasers Centrepoint announced on July 25 that Northpoint City is on track for a soft opening in 4Q17. When completed, the 1.33 million sq ft Northpoint City will be the largest integrated development in northern Singapore, according to Frasers Centrepoint. Northpoint City will house the 920-unit North Park Residences and Northpoint Shopping Centre, which will have more than 400 retail and dining outlets. In addition, the development will house the Nee Soon Central Community Centre, an air-conditioned bus interchange and an underground retail link that connects directly to the Yishun MRT station.

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