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Serious Kudos to outgoing PSA Chief Tan Chong Meng!

Discussion in 'The Courtyard Café' started by Hangover, Sep 11, 2017.

  1. Hangover

    Hangover Alfrescian Old Timer

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    Tan Chong Meng had did Singapore proud. Last year was a difficult year in global trade and he managed to get more containers and ships tranship in Singapore. He is ending his stint with a big bang. He is in the league of J. Y. Pillay who built SIA into a world class airlines.

    Now we managed to beat Malaysia harder despite the massive support that China gave them.
    Really not easy for him.

    http://www.themalaymailonline.com/m...t-klang-business-hit-as-more-firms-ship-south

    - More firms have shifted their operations away from Port Klang to Singapore under a new alliance agreement that has hit Malaysia’s main shipping hub hard. It noted further that many of Malaysia’s investments are partnerships with China, yet one of the country’s biggest companies and the world’s fourth largest player, the Ocean Alliance, made a huge shift from Klang to port operator PSA Singapore’s terminal in April.

    - State-owned China Cosco Shipping is also among the member companies of the alliance. “Only Kuantan Port has Chinese equity so far because it also aids Beijing’s South China Sea claims,” former Port Klang Authority chairman Lee Hwa Beng told The Straits Times. “Other infrastructure plans have either not taken off or are only loans, or worse, just Chinese companies winning construction deals,” he added.

    - Cargo throughput was down by a sharp 8.4 per cent in the second quarter of this year to 3 million twenty-foot equivalent units (TEU) after nearly four years of increasing loads, according to data compiled from Northport and Westports, the two operators in Klang. This followed an almost stagnant growth of 0.9 per cent in the previous quarter. Westports, which controls three-quarters of Klang’s total capacity, saw this year’s cargo volume decline by 7 to 12 per cent while next year’s prospect remains “murky”, the paper quoted UOB-Kay Hian’s analyst Kong Ho Meng as saying.

    - Port Klang is reportedly the only world’s top 20 ports to see a drop in volume in the first half of this year. Quoting government and industry sources, the paper said Chinese companies designated to take a stake in these two projects have had reservations over their viability.




    MAKE SINGAPORE GREAT AGAIN!
     
  2. syed putra

    syed putra Alfrescian Old Timer

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    I dunno why sinkies are wary of competiton from neighbouring countries.when it comes to ports and shipping and probably airlines, nobody can beat singapore due to location and supporting industries.
     
  3. Hangover

    Hangover Alfrescian Old Timer

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    i beg to differ. On macro front, last year was super tough. HK's port almost got killed.
    On micro, people pinpointed and bully us like shit and Chong Meng put up a fierce resistance.
    So he did very well. This kind of people can lead our GIC and Temasek.

    Airlines
    SIA did not do well and got tramped by the Middle East powerhouses.
    Tiger and Scoot are always behind AirAsia and Jetstar, and probably VietAir.

    Shipping
    Our NOL got killed and we are only left with PIL and Singapore Shipping Corp.
     
  4. syed putra

    syed putra Alfrescian Old Timer

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    There is no money in container shops.unless you have one pf those mega vessels.even malaysia sold off its container shipping business.
    Also, hong kong does not have the same supporting industries like singapore on shipping.
     
  5. Pek Kim Lui

    Pek Kim Lui Alfrescian Old Timer

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    WE WON BECOS OF CORRUPTIONS IN my............
     
  6. Hangover

    Hangover Alfrescian Old Timer

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  7. Hangover

    Hangover Alfrescian Old Timer

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    It's ok to be corrupted.
    In Malaysia, they take money, but at least they deliver their promise.
    In India and China, they just take the money and give you 101 excuses after that.
     
  8. gingerlyn

    gingerlyn Alfrescian (Inf)

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    Only stupid sinkies fail to realize that Port Kelang and Tanjong Pelepas combined volume is much bigger than Singapore.
    Malaysia ports are divided into Port Kelang and Tanjong Pelepas.
     
  9. JohnTan

    JohnTan Alfrescian (InfP) Old Timer

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    This is like winning because we are breathing.
     
  10. red amoeba

    red amoeba Alfrescian (Inf)

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    Did PSA reveal how many singaporean uncles did they cut ? And how much each dock hand is being paid ?

    The gigantic cranes you see comes w a price. And if I am not wrong many of them are standing erect like a cock meaning they are not loading or unloading containers.

    There had been talk of listing PSA on the Mainboard but so far for many eons no news. Why ? All their overseas investments - how many are making money ?
     
  11. gingerlyn

    gingerlyn Alfrescian (Inf)

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    actually many people are unaware that China is building a few artificial island beside Batam with Indonesia agreement.
    These islands will be turned to ports.
     
  12. Porfirio Rubirosa

    Porfirio Rubirosa Alfrescian Old Timer

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    Talking about PSA's turn around, what has happened to Yeo Ning Hong??
     
  13. Hangover

    Hangover Alfrescian Old Timer

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  14. gingerlyn

    gingerlyn Alfrescian (Inf)

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    Port Kelang in your web link does not include Westport.
    For example, westport handled closed to 10million in 2016.
    http://www.westportsmalaysia.com/[email protected]_Q16_Financial_Result_Announcement.aspx

    Your weblink only include North Port which is a government port.
     
  15. Narong Wongwan

    Narong Wongwan Alfrescian (Inf)

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    What sg had was only first mover advantage back then.....
    Now eroded by our neighbouring copying and catching up.
    Sg lost the edge long ago.


    What supporting industries you talking about that hk does not have?
    Hk used to pipped sg every time.
    Now they lost it due to the china developing their ports so they lost their hinterland. They dun do much transshipment as the case of sg. Same same but different
     
  16. gingerlyn

    gingerlyn Alfrescian (Inf)

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    in the long run, PSA may not survive.
    1. Maersk has their hub at Tanjong Pelepas
    2. COSCO China will listen to One Belt One Road and shift to Malaysia
    3. MSC and CMA also have huge investment in man made islands near Batam
     
  17. Narong Wongwan

    Narong Wongwan Alfrescian (Inf)

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    Add in Kra Canal and sg is fucked.
    Wonder why they building the mega port in Tuas. It's going to be a ghost town
     
  18. eatshitndie

    eatshitndie Alfrescian (Inf)

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  19. scroobal

    scroobal Alfrescian Old Timer

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    I wonder if the govt will have a rethink of scholar's ability to drive change. TCM is a local grad that rose up the private sector run run global business lines.
     
  20. Hangover

    Hangover Alfrescian Old Timer

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