Singapore's NOL sells logistics arm to Kintetsu for $1.2 bn

[krafty]

Singapore container shipping firm Neptune Orient Lines (NOL) said Tuesday it is selling its logistics business to Japanese freight company Kintetsu World Express, Inc. for $1.2 billion.
NOL said in a filing with the Singapore Exchange its decision to sell APL Logistics would allow it to focus on its core liner shipping business.
Proceeds from the sale will be used to strengthen the company's financial position, including repaying debts, said NOL, Southeast Asia's biggest container line.
NOL, which is 65 percent owned by Singapore state-linked investment firm Temasek Holdings, reported a net loss of $260 million last year, widening from the $76 million loss it reported in 2013.
The transaction is expected to be completed by mid-2015, the company said.
Kintetsu World Express group president and chief executive Satoshi Ishizaki said the purchase of APL Logistics fitted with the firm's strategy of strengthening its international presence especially in the US and Asia where APL Logistics has a strong presence.

https://sg.finance.yahoo.com/news/s...tics-arm-kintetsu-1-2-142742135--finance.html

 

[krafty]

btw, my scout told me that in NOL, most staff dun last more than 2 years.

 

[Hans168]

btw, my scout told me that in NOL, most staff dun last more than 2 years.

except CEO n former minister & presently MP of white horse fame

 

[kukubird59]

except CEO n former minister & presently MP of white horse fame

hahaha....wrong...Cedric Foo was never CEO of NOL so far.....

 

[Cerebral]

APL logistics is one of the most lucrative arm......

 

[Hans168]

except CEO n former minister & presently MP of white horse fame

Was it Cedric Fool???

 

[Hans168]

hahaha....wrong...Cedric Foo was never CEO of NOL so far.....

read again or go back to sekolah kambing

 

[lifeafter41]

Singapore container shipping firm Neptune Orient Lines (NOL) said Tuesday it is selling its logistics business to Japanese freight company Kintetsu World Express, Inc. for $1.2 billion.
NOL said in a filing with the Singapore Exchange its decision to sell APL Logistics would allow it to focus on its core liner shipping business.
Proceeds from the sale will be used to strengthen the company's financial position, including repaying debts, said NOL, Southeast Asia's biggest container line.
NOL, which is 65 percent owned by Singapore state-linked investment firm Temasek Holdings, reported a net loss of $260 million last year, widening from the $76 million loss it reported in 2013.
The transaction is expected to be completed by mid-2015, the company said.
Kintetsu World Express group president and chief executive Satoshi Ishizaki said the purchase of APL Logistics fitted with the firm's strategy of strengthening its international presence especially in the US and Asia where APL Logistics has a strong presence.

https://sg.finance.yahoo.com/news/s...tics-arm-kintetsu-1-2-142742135--finance.html

Earlier on sold the NOL building, now sell the Logistic arm, what next to sell?
Can selling assets lead to profitability?

 

[virus]

clap clap... this is another brightest and bestest scholar NG yat chung

Neptune Orient Lines is back on track to sustainable operating profits on better-than-expected volumes on its key Asia-North America trade business for its container shipping unit American President Lines (APL) and aggressive cost-cutting, its president and chief executive said.

http://www.reuters.com/finance/stocks/companyOfficers?symbol=NEPS.SI

 

[virus]

Earlier on sold the NOL building, now sell the Logistic arm, what next to sell?
Can selling assets lead to profitability?

can sell backside lor.... the flesh n will must be strong.

 

[krafty]

they need lau goh to revive the golden years when he was in charge.

Earlier on sold the NOL building, now sell the Logistic arm, what next to sell?
Can selling assets lead to profitability?

 

[lifeafter41]

they need lau goh to revive the golden years when he was in charge.

Could be a big challenge even with lau goh, with the Baltic Dry Index at its lowest ever at 516 as at 17 Feb 2015

BDIY:IND
516.00 6.00 1.15%
The Baltic Dry Index (replaces the Baltic Freight Index): A composite of the Baltic Capesize, Panamax, Handysize and Supramax indices. The index is designed as the successor to the Baltic Freight Index and was first published on January 4 1985 at 1000 points

Doubt the CEO is able to do anything about it.
Understand he is from the Army.

They know nuts about running a business, what more with such a big organization with P and L requirement.

 

[Satyr]

Earlier on sold the NOL building, now sell the Logistic arm, what next to sell?
Can selling assets lead to profitability?

I can understand selling the building if they need cash. But isn't shipping part of a logistics chain ? Without that they become like a rentacar.

 

[Morata]

They should be selling arms instead.