NOL run into the ground by PAP scholar Generals, now being sold to French. WTF

Papsmearer · Nov 9, 2015

Cerebral said:
Just to correct your misconception. They dont have good systems, hence the purchase of APL for their systems

The theory behind APL purchase was a sound one. But they did not do enough due diligence. They forgot APL ships are US flagged and therefore have to abide by US labour and union regulations. Impossible to make money under those conditions. But in any case, Flemming is not to blame as APL was purchased before he got there.

Papsmearer · Nov 9, 2015

congo9 said:
If Flemming can't do it, you think David lim could ? TH is more of old boys network then a profitable outfitoutfit.

This is how corrupted the PAP is. GCT should have been screaming bloody blue murder. But he just take his SM $million salary from 2004 to 2011 and jiak liao bee. Why the fuck was he not put back into NOL to be Chairman? After all, he actually has real shipping experience. Instead, you got Cheng Wai Keung (a garment business owner) and then after him, Gay Loong's cousin Kwa Chong Seng. And between them, they installed fucktards like former minister David Lim (who previously ran the disaster other wise known as Suzhou Industrial Park) and then installed General Ng, former Arty officer to be CEO. Even after seeing all these stupid appointments, wooden should have at least open his mouth and criticize them. What can the PAP and Lees do to him? Call him a wife beater? Call him an alchoholic? Say he rape little boys? No, he just took his money and tiam tiam shut up. This is PAP meritocracy?

kiwibird7 · Nov 9, 2015

Singapore will be the first country to squander their sovereign funds on bad investments and go bankrupt instead of welfare for those born in SG.

enterprise2 · Nov 9, 2015

Lots of million $ ministars in NOL. Starting with Lau Goh and the Lims (Chee On, Boon Heng and David..etc). They r all responsible for bringing NOL to this state. It's no difference with all the other GLCs. ST is struggling and even SIA is floundering. Worse got to be SMRT! Anyway, important thing is none of the ministars r struggling. No need to consider downgrading to HDB and such!

iamhere · Nov 9, 2015

beginning of THE END

borom · Nov 9, 2015

Again nobody in the holding company (that appoints the top management) held accountable.

This time they cannot even say its long term investment(the excuse they give for billion losses in failed banks).
How many of the 70% even know about NOL or ABC Learning ?

winnipegjets · Nov 9, 2015

aerobwala said:
F&N, NOL, what next ?

There are not many things left to sell ...maybe Ho Jinx? For her, we have to pay billions for someone to take her away.

winnipegjets · Nov 9, 2015

kiwibird7 said:
Singapore will be the first country to squander their sovereign funds on bad investments and go bankrupt instead of welfare for those born in SG.

How many billions will Temasek lose in China? China doesn't have enough dough to save all its banks, some will have to go and they are the ones Temasek put big bucks on.

greedy and cunning · Nov 9, 2015

enterprise2 said:
Lots of million $ ministars in NOL. Starting with Lau Goh and the Lims (Chee On, Boon Heng and David..etc). They r all responsible for bringing NOL to this state. It's no difference with all the other GLCs. ST is struggling and even SIA is floundering. Worse got to be SMRT! Anyway, important thing is none of the ministars r struggling. No need to consider downgrading to HDB and such!

pretender sam thought otherwise .
this is what he said :

Hoping to move back in the not too distant future after realising just how good the PAP is.

frenchbriefs · Nov 9, 2015

Papsmearer said:
This is how corrupted the PAP is. GCT should have been screaming bloody blue murder. But he just take his SM $million salary from 2004 to 2011 and jiak liao bee. Why the fuck was he not put back into NOL to be Chairman? After all, he actually has real shipping experience. Instead, you got Cheng Wai Keung (a garment business owner) and then after him, Gay Loong's cousin Kwa Chong Seng. And between them, they installed fucktards like former minister David Lim (who previously ran the disaster other wise known as Suzhou Industrial Park) and then installed General Ng, former Arty officer to be CEO. Even after seeing all these stupid appointments, wooden should have at least open his mouth and criticize them. What can the PAP and Lees do to him? Call him a wife beater? Call him an alchoholic? Say he rape little boys? No, he just took his money and tiam tiam shut up. This is PAP meritocracy?

most importantly of all 70 percent voted for it in 2015.

no_faith · Nov 9, 2015

Maersk has already bought P&O. Can they tahan to buy apl? :confused:

cocobobo · Nov 9, 2015

Papsmearer said:
This is how corrupted the PAP is. GCT should have been screaming bloody blue murder. But he just take his SM $million salary from 2004 to 2011 and jiak liao bee. Why the fuck was he not put back into NOL to be Chairman? After all, he actually has real shipping experience. Instead, you got Cheng Wai Keung (a garment business owner) and then after him, Gay Loong's cousin Kwa Chong Seng. And between them, they installed fucktards like former minister David Lim (who previously ran the disaster other wise known as Suzhou Industrial Park) and then installed General Ng, former Arty officer to be CEO. Even after seeing all these stupid appointments, wooden should have at least open his mouth and criticize them. What can the PAP and Lees do to him? Call him a wife beater? Call him an alchoholic? Say he rape little boys? No, he just took his money and tiam tiam shut up. This is PAP meritocracy?

That, my friend, is called ownself check ownself.

Cerebral · Nov 9, 2015

Papsmearer said:
The theory behind APL purchase was a sound one. But they did not do enough due diligence. They forgot APL ships are US flagged and therefore have to abide by US labour and union regulations. Impossible to make money under those conditions. But in any case, Flemming is not to blame as APL was purchased before he got there.

From my memory, APL was turning a decent profit before they were bought over.

enterprise2 · Nov 9, 2015

Papsmearer said:
This is how corrupted the PAP is. GCT should have been screaming bloody blue murder. But he just take his SM $million salary from 2004 to 2011 and jiak liao bee. Why the fuck was he not put back into NOL to be Chairman? After all, he actually has real shipping experience. Instead, you got Cheng Wai Keung (a garment business owner) and then after him, Gay Loong's cousin Kwa Chong Seng. And between them, they installed fucktards like former minister David Lim (who previously ran the disaster other wise known as Suzhou Industrial Park) and then installed General Ng, former Arty officer to be CEO. Even after seeing all these stupid appointments, wooden should have at least open his mouth and criticize them. What can the PAP and Lees do to him? Call him a wife beater? Call him an alchoholic? Say he rape little boys? No, he just took his money and tiam tiam shut up. This is PAP meritocracy?

Wooden is out of the game for so Long. Not if he understand shipping today to save his life!

streetsmart73 · Nov 9, 2015

Just put ah jinxx at the helm; the messiah hor :biggrin:

laksaboy · Nov 9, 2015

This is what happens when you let SAF scholar trash run a business. :wink:

JurgenKlopp · Nov 9, 2015

laksaboy said:
This is what happens when you let SAF scholar trash run a business.

Welcome back from reservist duty. No? :biggrin:

Papsmearer · Nov 9, 2015

laksaboy said:
This is what happens when you let SAF scholar trash run a business.

U telling me that this fucktard is better then Flemmings Jacob, who has been in the shipping business since 1960, when Ng was not even a sperm in his father's ball? If I were the shareholders, I would have launched a class action lawsuit for gross negligence for appointing an obviously unqualified and incompetent CEO. How is this fucktard ex arty officer possibly better then this guy?

Mr. Flemming Robert Jacobs is a Partner and Chairman of Econships Ltd. Mr. Jacobs served as the President and Chief Executive Officer of Neptune Orient Lines (NOL) group of companies, a holding of American Eagle Tankers Inc. Ltd and Chief Executive Officer of American President Lines (APL) from June 1999 to 2003. He joined NOL group of companies in May 1999. From 1960 to 1999, he worked for A.P. Moller-Maersk in various countries and posts. He served in various positions in the A.P. Moller Group, primarily in Maersk Lines' container transportation and logistics activities and served in the global container services division in different capacities, including Executive Vice President, Managing Director and Chief Executive Officer at a group level and for certain Maersk affiliates and subsidiaries. He was Partner and Chief Executive Officer of Maersk Tankers from 1997 to 1999. He was a Partner in the A.P. Moller Group from January 1997 to 1999 and the Chief Executive Officer for that group's tanker activities. He served as the Chief Executive Officer and President of AET Tanker Holdings Sdn Bhd since June 1999. Mr. Jacobs serves as Chairman of Vestergaard Frandsen S.A. He served as the Chairman of the Board of Global Ship Lease, Inc. He served as Vice Chairman of the Board of AET Tanker Holdings Sdn Bhd. He serves as a Member of Advisory Board at Rickmers Holding GMBH & CIE. KG. He has been a Director of Scandlines GmbH since August 2010. He has been a Director of Inchcape Shipping Services Ltd. since March 30, 2006. He serves as Director of Stena and Samskip hf. He serves as a Member of Global Advisory Board at Arshiya Ltd (formerly Arshiya International, Ltd.). He has taken on a number of non-executive directorships in recent years. He serves on the advisory councils of Port of Singapore Authority and the European Institute of Business Administration, or INSEAD. He serves as Member of board of Advisor of the Panama Canal Authority. Mr. Jacobs serves as a trustee of Lloyds Register Holdings, UK, and as an advisor to Ultragas/Ultramar Group, Chile and AAE Railcar Leasing, Switzerland. He served as a Member of the Supervisory Board at DVB Bank SE from June 10, 2005 to June 13, 2013. He served as Director of AET Tanker Holdings Sdn Bhd. He served as a Director of Neptune Orient Lines, Ltd. from 1999 to 2003. He has served as a trustee of the Sailors' Society and a Fellow of the Chartered Institute of Transport and Logistics. He was named CNBC Asian Business Leader of the Year 2001, Chief Executive Officer's choice. Mr. Jacobs is also a Graduate of the Program for Management Development at the Harvard Graduate School of Business and attended executive education programs at IMD.

Papsmearer · Nov 9, 2015

frenchbriefs said:
most importantly of all 70 percent voted for it in 2015.

70% voted for it because the traitor dogs WP never bring these matters up in parliament and many more like it. If they keep whacking PAP during their 5 years in the PArliament, they would have opened a lot more eyes and maybe we would not have the 70% idiots voting today.

Papsmearer · Nov 9, 2015

enterprise2 said:
Wooden is out of the game for so Long. Not if he understand shipping today to save his life!

You don't just lose the knowledge. Trust me when I tell you the old NOL group are close knit and even the shipping fraternity is close. Wooden is still keeping in touch with his old shipping buddies, both NOL and in other countries, whether its thru golf or other things. He knows what is going on. He does not have to be CEO, but he can appoint a competent CEO who really knows the shipping business. And more importantly, if he was Chairman, he can protect and run interference for the CEO from the parent company Temask. Temasek requires that all the CEOs kiss their ass and por lumpar for them. Jacobs refuse to do that. That is one of the reason he was ousted.

NOL run into the ground by PAP scholar Generals, now being sold to French. WTF

Alfrescian (InfP) - Comp

Alfrescian (InfP) - Comp

Alfrescian

Alfrescian

Alfrescian

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian

Alfrescian (InfP) [Comp]

Alfrescian

Alfrescian (InfP)

Alfrescian (Inf)

Alfrescian

Alfrescian (InfP) - Comp

Alfrescian (InfP) - Comp

Alfrescian (InfP) - Comp

Similar threads