Whore Jinx is fucking useless. How can she lose money playing her own company shares?

[Papsmearer]

10 years ago, Temasek in a "brilliant" moved decided to spend $1.57 billion and pay $2.80 a share for the remaining 70% shares it did not own of NOL. By some minor miracle not all the common shareholders decided to take whore Jinx up on her offer. I am sure they are kicking themselves now for that. In any event, only 38.7% of the other shares were bought by Temasek, boosting their holding from 30% to 68.64%. Lets remember that is NOL, a GLC and a Temasek Holdings company. Today, just over 10 years later, the NOL stock price has plummeted to just over $1 per share and Temasek is in the process of selling off this money loser, which at one time was the national flag carrier of singapore. Its incredible to believe that in a controlled economy with a market maker like Temasek, Whore Jinx can still lose money on an investment that she could easily have manipulated. Its not like some foreign companies like Shincorp, or ABC Learning, or Bank of America came in and cheated/conned WHore Jinx into buying them and then cause her to lose tons of money. This is a self inflicted wound that cost the taxpayer over $1 billion.

How did it get to be this bad at NOL? Well, first, you take a 40 year shipping industry veteran that you had running NOL (Flemmings Jacob), and then you fire him because he would not kiss Temasek's ass and por lumpar. Maybe in Denmark where he comes from, merit and ability gets you to the top. But He forgot that he was not in Copenhagen anymore and in singapore, paper degree and ass kissing ability gets you to the top. In any case, you get rid of Jacob in 2003, and do you put in another 40 year shipping expert to replace him? If you are Whore Jinx, Of course not!! instead, you put in former Minister David Lim to be CEO in place of Jacob and you put garment maker Cheng Wai Keung (also vice chair of the PAP's china folly Suzhou Industrial Park) to be his boss as Chairman of the Board of NOL.

Whore Jinx then follow this stirling examples of fucked up appointments by further replacing David Lim with ex SAF Arty General Ng Yat Chung and with his boss being Whore Jinx's husband Gay Loong's first cousin, Kwa Chong Seng as Chairman. Today after 2 changes in CEO and Chairman after Jacob left, you have the result you see now. A share price of $1.06 and Temasek desperately looking around for buyers to what was once a national treasure. Thank you WP for not raising this. There is no better proof then this example of NOL to prove to the people of singapore that scholars cannot run businesses, that the PAP makes poor choices, and that Whore Jinx is a fuck useless asset manager. God Help US ALL.

 

[Papsmearer]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

Close of Temasek's offer for NOL

30 September 2004

MANDATORY CASH OFFER

by

Goldman Sachs (Singapore) Pte.
for and on behalf of

Lentor Investments Pte. Ltd.
(Incorporated in the Republic of Singapore)

a wholly-owned subsidiary of

Temasek Holdings (Private) Limited
(Incorporated in the Republic of Singapore)

for

Neptune Orient Lines Limited
(Incorporated in the Republic of Singapore)

CLOSE OF OFFER

Introduction

Goldman Sachs (Singapore) Pte. (“Goldman Sachs”) refers to the offer document dated 17 August 2004 (the “Offer Document”) in relation to the mandatory cash offer (the “Offer”) by Lentor Investments Pte. Ltd. (“Lentor” or the “Offeror”) for all the ordinary shares of S$1.00 each (“Shares”) in the capital of Neptune Orient Lines Limited (“NOL”) in issue and to be issued pursuant to the NOL Share Option Scheme.

All capitalised terms used and not defined herein shall have the same meanings given to them in the Offer Document.

Close of Offer

Goldman Sachs wishes to announce, for and on behalf of Lentor, that the Offer has closed at 3.30 p.m. on 29 September 2004.

Acceptances of the Offer on 29 September 2004

As at 3.30 p.m. on 29 September 2004, Lentor has received pursuant to the Offer:

acceptances in respect of an aggregate of 66,469,867 Shares, representing approximately 4.59 per cent. of the issued and paid-up share capital of NOL1; and
acceptances in respect of an aggregate of 448,500 Options, representing approximately 2.29 per cent. of the outstanding Options(2).

4. Current Shareholdings of Lentor and Parties Acting or Deemed to be Acting in Concert

with Lentor

The breakdown of the number of Shares owned, controlled or agreed to be acquired by Lentor and parties acting or deemed to be acting in concert with it (either before or during the Offer and pursuant to the Offer or otherwise, including acceptances of the Offer) as at 3.30 p.m. on 29 September 2004 is as follows:




Number of Shares


Percentage of issued
and paid-up share
capital of NOL (2)
Shares owned, controlled or agreed to be acquired by Lentor
and parties acting or deemed to be acting in concert with Lentor
as at the Offer Announcement Date(1) 433,746,362 29.93%
Shares acquired by Lentor prior to 29 September 2004 225,861,000 15.59%

Acceptances of the Offer prior to and including 29
September 2004
335,153,970 23.13%
Total 994,761,332 68.64%



Notes:

(1) Including 20,297,000 Shares owned directly by Lentor as at the Offer Announcement Date.

(2) Figures have been rounded to the nearest two decimal places.

Accordingly, as at 3.30pm on 29 September 2004, Lentor and parties acting or deemed to be acting in concert with Lentor owned, controlled or had agreed to acquire an aggregate of 994,761,332 Shares, representing approximately 68.64 per cent. of the issued and paid-up share capital of NOL. In addition, as at 3.30pm on 29 September 2004, Lentor has received acceptances in respect of an aggregate of 15,472,030 Options, representing approximately 79.15 per cent. of the outstanding Options.

Issued by
Goldman Sachs (Singapore) Pte.
For and on behalf of
Lentor Investments Pte. Ltd.
29 September 2004
Singapore

 

[Papsmearer]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

Takeover bid spurs NOL shares

The JOURNAL of COMMERCE ONLINE | Aug 03, 2004 8:00PM EDT
Print



Shares in Neptune Orient Lines surged Wednesday on speculation that Temasek Holdings, Singapore's state-owned investment arm, will increase a 2.8 billion Singapore dollars (US$ $1.6 billion) takeover bid for the world's sixth-largest shipping line.

NOL's shares rose 7.4 percent to 2.90 dollars, higher than Temasek's bid of 2.80 dollars a share. Temasek, seeking more than half the company, raised its stake to 30.14 percent by buying shares Tuesday, triggering a mandatory takeover that will be its biggest acquisition.

Temasek, which manages 100 billion dollars in assets, is looking for investments that will match its average 16 percent annual return over the past 30 years. Shares of NOL, which operates the world's sixth-largest container fleet, have risen 34 percent this year, lifted by a surge in exports to China.

Temasek said it will continue to buy NOL's shares in the market at the offer price.

NOL did not comment on the offer.

NOL has been linked to the potential acquisition of several shipping lines, forcing the company to issue a denial in February when speculation shaved as much as 7 percent off its share price. Later that month, Chief Executive David Lim said the shipping group would consider buying another container line if "it's a good strategic fit" that enhanced shareholder value, competitiveness and customer service.

In May, Lim said NOL would rather buy back its own stock, then priced at 1.95 dollars, than acquire rivals because they were more expensive.

The company had earlier considered buying P&O Nedlloyd Container Line, the world's third-largest container shipping line by capacity, but dismissed the plan after consecutive yearly losses in 2001 and 2002.

 

[Papsmearer]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

https://sg.finance.yahoo.com/echarts?s=N03.SI

 

[harimau]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

Commodities prices crashed really hurt shipping and transportation businesses badly.

If you think everything is man made and created from dreams, you won't feel so bad after all.

At most 70% continue to slog for money losing entity like Ten Ma Sick Hldgs.

 

[Hans168]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

10 years ago, Temasek in a "brilliant" moved decided to spend $1.57 billion and pay $2.80 a share for the remaining 70% shares it did not own of NOL. By some minor miracle not all the common shareholders decided to take whore Jinx up on her offer. I am sure they are kicking PAP makes poor choices, and that Whore Jinx is a fuck useless asset manager. God Help US ALL.

It appears that the more money TH loses, the bigger wud be her bonues if not salary..... all these while wasting her corporate work hours accompanying her husbands domestically or overseas!!
Now lagi shiok that she worked herself out of any responsibility with another layer under her!!! What a job; What a pay!!!

Shud not such job be tendered??????????????????????

 

[Papsmearer]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

True talent knows no boundary. If the PAP is correct, and that these scholar generals and civil servents who are supposed to be true talents that can run big companies, why then have non ever been hired by a foreign company? Other then George Yeo, who is running a subsidiary of Kerry International, Kerry Logistics, no one else have been recruited from the ranks of hundreds of retired Colonels and Generals. If there was not a Ministry, or GLC, or Stat Board that you can stick them in, they would all not be employable in the work place.

Look at many big international companies world wide.
CEO of a Japanese company, Nissan is Ghosn, a Brazilian.
CEO of Pepsi is Indra Nooyi, an Indian
CEO of Coca Cola is Muhtar Kent, a Turk
CEO of Nokia is a Canadian, STephen Elop
etc etc

The world is full of examples of many big companies run by a foreign talent, a real foreign talent. Is it not telling that no companies come to singapore to recruit ex scholar Generals and Ex PSC scholars to be their higher management staff with a view to grooming to be a possible future CEO? In other words, the world recognizes these assholes are not talents at all. Only 70% dumbshits and the PAP say they are.

 

[melzp]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

I tot Jinx always claimed that "they are for long-term investment?.

How long ? I always wondered.

 

[Leongsam]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

If it wasn't for Ho Ching and her team of scholars I'm sure the share price would be even lower.

 

[Leckmichamarsch]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

True talent knows no boundary. If the PAP is correct, and that these scholar generals and civil servents who are supposed to be true talents that can run big companies, why then have non ever been hired by a foreign company? Other then George Yeo, who is running a subsidiary of Kerry International, Kerry Logistics, no one else have been recruited from the ranks of hundreds of retired Colonels and Generals. If there was not a Ministry, or GLC, or Stat Board that you can stick them in, they would all not be employable in the work place.

Look at many big international companies world wide.
CEO of a Japanese company, Nissan is Ghosn, a Brazilian.
CEO of Pepsi is Indra Nooyi, an Indian
CEO of Coca Cola is Muhtar Kent, a Turk
CEO of Nokia is a Canadian, STephen Elop
etc etc

The world is full of examples of many big companies run by a foreign talent, a real foreign talent. Is it not telling that no companies come to singapore to recruit ex scholar Generals and Ex PSC scholars to be their higher management staff with a view to grooming to be a possible future CEO? In other words, the world recognizes these assholes are not talents at all. Only 70% dumbshits and the PAP say they are.

Got got.......... Yeo CT hired by Indon Group for $22k monthly which reflects true value of minister or ex minister
GY's case tak pakai as Robert Kuok quite local & I doubt his pay is anywhere near the ministerial big bucks he was paid courtesy our sweat n blood money
OSO even superstar Saw Phiak Hua earned a lot less than she got from SMRT........... another indicator of true worth of Desmond Kwek... quack quack

 

[Leckmichamarsch]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

I tot Jinx always claimed that "they are for long-term investment?.

How long ? I always wondered.

as long as buy high, sell low............ takes

 

[Papsmearer]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

It appears that the more money TH loses, the bigger wud be her bonues if not salary..... all these while wasting her corporate work hours accompanying her husbands domestically or overseas!!
Now lagi shiok that she worked herself out of any responsibility with another layer under her!!! What a job; What a pay!!!

Shud not such job be tendered??????????????????????

When u wear the pants in the PeeM household, you can make hubby to appoint you to any position you want mah.

 

[Papsmearer]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

Got got.......... Yeo CT hired by Indon Group for $22k monthly which reflects true value of minister or ex minister
GY's case tak pakai as Robert Kuok quite local & I doubt his pay is anywhere near the ministerial big bucks he was paid courtesy our sweat n blood money
OSO even superstar Saw Phiak Hua earned a lot less than she got from SMRT........... another indicator of true worth of Desmond Kwek... quack quack

I already mention Yeo. I challenge you to find another example of ex SAF scholar general making it big in the world.

 

[zeebjii]

Re: Whore Jinx is fucking useless. How can she lose money playing her own company sha

It appears that the more money TH loses, the bigger wud be her bonues if not salary..... all these while wasting her corporate work hours accompanying her husbands domestically or overseas!!

Not only her. There are many useless fat cats in her organization, and i mean really F-A-T cats....super well paid for doing a shit job, and many are FTs.:(