SINGAPORE:

Shares in troubled commodities trader Noble Group plunged at much as 49 percent Thursday after it warned of a quarterly loss of up to $1.8 billion 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 costcutting seen to slash its headcount to 400 from 900 currently.