Nomura swings to hospitality from retail

Singapore

WITH Malaysia warming up as a shopping destination in Asia given its weak ringgit, there could be spillover benefits for Singapore from a rise in tourist arrivals to Malaysia, Nomura posits. And while Singapore hotels will benefit, retailers here may be disadvantaged - these are flagged among reasons for the bank's research house switching its preference from CapitaMall Trust (CMT) to CDL Hospitality Trust (CDLHT).

In reports issued on Friday, Nomura lifted its rating for CDLHT to "buy" from "neutral" but downgraded CMT to "neutral" from "buy"; it kept a "buy" call on CapitaMalls Malaysia Trust (CMMT) as it expe…