- Joined
- Jul 24, 2008
- Messages
- 33,627
- Points
- 0
[h=2]Maersk sails to profit while NOL, under ex-SAF chief, loses another mast[/h]
August 17th, 2012 |
Author: Contributions
NOL's CEO, Lieutenant-General Ng Yat Chung
No need to try to do detailed study of Maersk line’s results vis-a-vis NOL’s.
Maersk Line, operator of the world’s largest container ship fleet, steamed to a profit of US$227m after losses of US$95m a year earlier and US$599m in the previous quarter. NOL “on underlying earnings” made US$7m. Actually “Net loss for the three months ended June 29, 2012, stood at US$118 million, which widened from a net loss of US$57 million for the same period a year ago. This result – which marks the sixth straight quarter of losses – missed market expectations of a net loss of US$67.6 million, a Bloomberg poll of six analysts showed: by 76%,” earlier article (‘Scholar, ex-SAF chief & Temasek MD fails to turnaround NOL‘).
And Maersk Line is expecting to be profitable this financial year, while NOL says “outlook is uncertain”. And our guy is a scholar, general, ex-SAF chief and ex-Temasek MD. Interestingly Maersk turned around despite the problems in Europe. For historical reasons, most of its revenue comes from ships sailing to Europe, unlike NOL which depends on revenue from ships sailing to the US, which is in better shape than NOL.
Sure hope this CEO is not from RI.
.
Cynical Investor
[Source]: Thoughts of a Cynical Investor (http://atans1.wordpress.com).
.
Editor’s note: To answer Cynical Investor, our Lieutenant-General (NS) Ng Yat Chung was from Hwa Chong Junior College. In 1978, at the Inter-school Mathematical Competition organized by the Singapore Mathematical Society, he came in 2nd. He received $75 for his efforts (http://sms.math.nus.edu.sg/smsmedley/Vol-07-1/Annual report 1978.pdf).
.
No need to try to do detailed study of Maersk line’s results vis-a-vis NOL’s.
Maersk Line, operator of the world’s largest container ship fleet, steamed to a profit of US$227m after losses of US$95m a year earlier and US$599m in the previous quarter. NOL “on underlying earnings” made US$7m. Actually “Net loss for the three months ended June 29, 2012, stood at US$118 million, which widened from a net loss of US$57 million for the same period a year ago. This result – which marks the sixth straight quarter of losses – missed market expectations of a net loss of US$67.6 million, a Bloomberg poll of six analysts showed: by 76%,” earlier article (‘Scholar, ex-SAF chief & Temasek MD fails to turnaround NOL‘).
And Maersk Line is expecting to be profitable this financial year, while NOL says “outlook is uncertain”. And our guy is a scholar, general, ex-SAF chief and ex-Temasek MD. Interestingly Maersk turned around despite the problems in Europe. For historical reasons, most of its revenue comes from ships sailing to Europe, unlike NOL which depends on revenue from ships sailing to the US, which is in better shape than NOL.
Sure hope this CEO is not from RI.
.
Cynical Investor
[Source]: Thoughts of a Cynical Investor (http://atans1.wordpress.com).
.
Editor’s note: To answer Cynical Investor, our Lieutenant-General (NS) Ng Yat Chung was from Hwa Chong Junior College. In 1978, at the Inter-school Mathematical Competition organized by the Singapore Mathematical Society, he came in 2nd. He received $75 for his efforts (http://sms.math.nus.edu.sg/smsmedley/Vol-07-1/Annual report 1978.pdf).
.
