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Will NOL CEO lose job or get transferred elsewhere to screw up again?

Confuseous

Alfrescian (Inf)
Asset
WSJ reported yesterday (‘Temasek Puts Neptune Orient Lines Up for Sale‘, 16 Jul) that Temasek Holdings has put its US$1.7 billion container-shipping company, Neptune Orient Lines (NOL), up for sale.

“Heavily indebted, money-losing Neptune Orient Lines Ltd., 65% owned by Temasek and listed in Singapore, has been shopped to prospective buyers in recent months,” reported WSJ.

Apparently, Temasek has been in talks with one prospective buyer, but the two sides couldn’t agree on a price.

NOL was earlier reported that it was actively seeking merger discussions with other shippers including Germany’s Hapag-Lloyd AG and Hong Kong’s Orient Overseas (International) Ltd. There’s pressure to consolidate in the industry, which has suffered from overcapacity in recent years.

“It’s unclear whether any of NOL’s potential merger partners would now be interested in acquiring the Singapore shipper,” WSJ said.

In May, NOL sold off its profitable logistics business, APL Logistics Ltd, for US$1.2 billion to Japan’s Kintetsu World Express Inc.

NOL was founded in 1968 as Singapore’s national shipping line. It operates 92 vessels that service more than 160 ports world-wide.

The company’s liner business generated US$7 billion of revenue last year. The overall company, including the profitable logistics business it sold earlier this year, has lost money for three straight years.

Last year, NOL’s loss widened to US$260 million from US$76 million the year before.

NOL has declined to comment with regard to the potential sale and Temasek said that it won’t comment on “market speculation.”

However, if Temasek succeeds in selling NOL, new owners will typically bring in its own management team, resulting in the potential loss of jobs for current NOL CEO, LG (NS) Ng Yat Chung and his team at NOL. Temasek may then need to find new GLCs for LG (NS) Ng and his team to helm.

Maersk makes money while NOL loses

Long time NOL critic, Cynical Investor, in a blog post [Link] in May noted that while Denmark’s Maersk Line is making profit, our own NOL is making losses.

Maersk Line reported a jump in net profit to US$714 million from US$454 million in the first quarter of this year, largely due to lower bunker fuel prices.

At the same time, NOL reported that its first-quarter net loss was US$11 million down from US$89 million a year earlier.

“The performance of NOL’s CEO (scholar, SAF general, Temasek MD) tells the truth about ‘intelligence’ PAP style: it doesn’t work in the real world, only in S’pore,” Cynical Investor quipped.

LG (NS) Ng Yat Chung was the fifth Chief of Defence Force of SAF from 2003–2007. Before that, he served as the Chief of Army from 2000–2003. He became an executive in Temasek Holdings after leaving the SAF in 2007. In 2011, he joined NOL and became its Group President and CEO.

LG (NS) Ng has won many awards and medals in his career:

Public Administration Medal (Gold) (Military), in 1998
Knight Grand Cross (1st Class) of The Most Noble Order of the Crown of Thailand, in 2002
Knight Grand Cross (1st Class) of The Most Exalted Order of the White Elephantt, in 2005
(And Temasek hired him notwithstanding the clues to his capability? He is certified Chiak Liaw Bee!)
The Most Exalted Order of Paduka Keberanian Laila Terbilang (1st Class), in 2005
Bintang Yudha Dharma Utama (Grand Meritorious Military Order), in 2005
Darjah Panglima Gagah Angkatan Tentera, in 2005
Long Service Medal (Military), in 2007
Meritorious Service Medal (Military), in 2007
Outstanding Service Award, by NUS in 2013
Grand Cordon of the Order of the Resplendent Banner (3rd Class)
Legion of Merit (Degree of Commander)
Grand Cordon of the Order of the Precious Tripod
(Ah, this guy got award also for Por Lam Par!)

It’s not known how these awards and medals have helped him to make money for NOL.

http://www.tremeritus.com/2015/07/17/lg-ns-ng-may-be-losing-his-job-at-nol/
 

JohnTan

Alfrescian (InfP)
Generous Asset
Ng Yat Chung is a talented individual. In school, he excelled both in his studies and extra curricular activities to bag a good scholarship. In NS, he obviously was a leader amongst men and his sergeants recommended him for OCS. As an SAF regular, he did well enough to rise up the ranks to become an Lt. Gen. After leaving SAF, people in the private sector thought well enough of him to offer him a CEO job. I hope that after he leaves NOL, he would be posted to work at PA. We sure could use a former top scholar like Ng Yat Chung.
 

NanoSpeed

Alfrescian
Loyal
Ng Yat Chung is a talented individual. In school, he excelled both in his studies and extra curricular activities to bag a good scholarship. In NS, he obviously was a leader amongst men and his sergeants recommended him for OCS. As an SAF regular, he did well enough to rise up the ranks to become an Lt. Gen. After leaving SAF, people in the private sector thought well enough of him to offer him a CEO job. I hope that after he leaves NOL, he would be posted to work at PA. We sure could use a former top scholar like Ng Yat Chung.

I hope he can apply his knowledge and experience when he leaves NOL to join SIA. It seems an unfinished business, and SIA will benefit greatly from his leadership.
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset
This guy should take over SMRT. NOL may be losing money but its ships don't break down every other day so he must do an excellent job ensuring reliability and dependability.
 

halsey02

Alfrescian (Inf)
Asset
Ng Yat Chung is a talented individual. In school, he excelled both in his studies and extra curricular activities to bag a good scholarship. In NS, he obviously was a leader amongst men and his sergeants recommended him for OCS. As an SAF regular, he did well enough to rise up the ranks to become an Lt. Gen. After leaving SAF, people in the private sector thought well enough of him to offer him a CEO job. I hope that after he leaves NOL, he would be posted to work at PA. We sure could use a former top scholar like Ng Yat Chung.


I have classmates, just as "decorated" as this person you have described...a top scholar too & another who was a "C" plan scholar eons ago....they are lowest risk takers on this earth....you don't except such people to turn around any companies..."help the government" YES!.

Was it MAERSK who moved their operations to across the causeway to Johor& & that Taiwan Company, Evergreen too...when NOL & whoever was so proud of themselves, back in the days, where everything was "rosy"....what was that again " pride has its fall"...
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
Must do DNA test, see if he cud be the lost bro of Kim Jong un.

The Chairman of NOL is Kwa Chong Seng, who is the cousin of PeeM Lee Gay Loong. Is that close enough for you? Kwa is the son of Gecko's brother, so he and Gay Loong are first cousins. As well, Kwa is also on BOD of Temasick Holdings whose CEO is Gay Loong's wife Whore Jinx. Incestous or not?
 

Leckmichamarsch

Alfrescian
Loyal
Ng Yat Chung is a talented individual. In school, he excelled both in his studies and extra curricular activities to bag a good scholarship. In NS, he obviously was a leader amongst men and his sergeants recommended him for OCS. As an SAF regular, he did well enough to rise up the ranks to become an Lt. Gen. After leaving SAF, people in the private sector thought well enough of him to offer him a CEO job. I hope that after he leaves NOL, he would be posted to work at PA. We sure could use a former top scholar like Ng Yat Chung.

pui pui////////////// if he is not spineless be like G Yeo n earn his bread from private sector HKG
 

bigboss

Alfrescian
Loyal
Ng Yat Chung is a talented individual....I hope that after he leaves NOL, he would be posted to work at PA. We sure could use a former top scholar like Ng Yat Chung.

hahaha...you really see this scholar no up. Pappies are likely to put him up for erection to screw the sinkies later, like many scholars who came up with all kinds of policies to make life intolerable for locals but good for foreigners.

If this scholar is good, he will stop HDB from selling flats to Ass-Pee-Rs and allow only sinkies to buy and own HDB flats, Ass-Pee-R can only rent from HDB and not allowed to buy and sell HDB flat to make capital gain.
 

bigboss

Alfrescian
Loyal
pui pui////////////// if he is not spineless be like G Yeo n earn his bread from private sector HKG

sama sama, lah....Georgie Boy also got kicked out by WP or he would still the white on white guy and not looking for his bread and butter in the private sector.
 

Confuseous

Alfrescian (Inf)
Asset
I have classmates, just as "decorated" as this person you have described...a top scholar too & another who was a "C" plan scholar eons ago....they are lowest risk takers on this earth....you don't except such people to turn around any companies..."help the government" YES!.

Was it MAERSK who moved their operations to across the causeway to Johor& & that Taiwan Company, Evergreen too...when NOL & whoever was so proud of themselves, back in the days, where everything was "rosy"....what was that again " pride has its fall"...

The movement of the two companies led to the growth of competition from Johor.
Any junior sales executive will tell you that you never, ever allow your biggest customer to try a competitive brand.
Unless you are very cock sure that you are the best.
 

shittypore

Alfrescian
Loyal
The Chairman of NOL is Kwa Chong Seng, who is the cousin of PeeM Lee Gay Loong. Is that close enough for you? Kwa is the son of Gecko's brother, so he and Gay Loong are first cousins. As well, Kwa is also on BOD of Temasick Holdings whose CEO is Gay Loong's wife Whore Jinx. Incestous or not?

My Goodness! Wat a powerful Familee, we Sinkies must be looney to allow such close inbreeding by this Familee controlling the Nation wealth.
 

xpo2015

Alfrescian
Loyal
How could shipping lose money? World cargo demands increased because of logistics need to buy and sell products from overseas?

Dun tell me Military Juntas are running the companies again?

Peasants employees needs to feed families pay HDB mortgages and car loans.

Die lah!
 
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