NOL puts up own building for sale

[laksaboy]

NOL CEO

http://www.nol.com.sg/wps/portal/nol/aboutus/managementteam

Ex-SAF trash that was parachuted into a GLC. Nothing new.
No wonder those companies are languishing.

 

[erection2015]

cosco suffering at the moment issnt it?

The chips r falling. First the bldg then the entire company. Recent retrenchment din help ? Sell nol to evergreen or cosco ? Lol

 

[no_faith]

cosco suffering at the moment issnt it?

dun tink so they are really suffering. PRC Co. cant underestimate, sumhow they might be able to find money pump in to help them.
hahaha

 

[erection2015]

i guess so....but many of their european orders got /getting cancelled i read.

dun tink so they are really suffering. PRC Co. cant underestimate, sumhow they might be able to find money pump in to help them.
hahaha

 

[no_faith]

i guess so....but many of their european orders got /getting cancelled i read.

it seems like they have cross strait shipments out China, not Europe tho. Australia seems to be one of them.

 

[erection2015]

ahh ok ...careful of their shares though.

it seems like they have cross strait shipments out China, not Europe tho. Australia seems to be one of them.

 

[no_faith]

ahh ok ...careful of their shares though.

bro, no liking of shipping, logistics co. prices.
unstable market, these co. very risky unless they have cash to push up their prices.
now no job, low cash, c c look look.:(

 

[erection2015]

she's still looking for something for you bro....i'll ask again ...meeting her on friday.

now no job, low cash, c c look look.:(

 

[GoldenDragon]

The Prison Service.

Don't be surprised if prisons are outsourced to the private sector.

The 2 main intel services and Parliament can also take that route.

 

[Loofydralb]

Neptune Orient Lines is putting up the building that houses its headquarters for sale to free up capital.

It said on Monday in a statement that it intends to sell its 29-year-old HQ 'to release capital for strategic investment'.

NOL said it 'has not decided on a reserved price' for the freehold commercial building.

It will only decide whether to relocate the 500 employees who work there or remain in the existing building as a tenant after a buyer is identified, it added.

I thought NOL was the pride of our Emeritus when they bought APL?

According to temasick, led by the brilliant ho jinx, nol is a strategic investment and will never be sold.

She is right of course. because if others buy nol, they will relocate all their terminals to cheaper locations and our ports will be ghost towns.

 

[Confuseous]

NOL sells building, layoff 400 staff

The Journal of Commerce, 2 Jul 2012

NOL plans to sell its Singapore headquarters building as part of an ongoing cost-reduction and restructuring program that is producing wide-spread layoffs globally.

NOL has retained the commercial real estate firm Jones Lang LaSalle to market the property. The 26-story tower is located near the foot of Alexandra Road in Singapore.

APL, NOL’s liner-shipping subsidiary, is in the middle of a global effort to reduce costs by as much as $500 million in the coming year. After NOL announced a first-quarter loss of $254 million, APL, the world’s seventh-largest container line by vessel capacity, started laying off as many as 400 employees at offices around the world.

 

[Papsmearer]

Re: NOL sells building, layoff 400 staff

The Journal of Commerce, 2 Jul 2012

NOL plans to sell its Singapore headquarters building as part of an ongoing cost-reduction and restructuring program that is producing wide-spread layoffs globally.

NOL has retained the commercial real estate firm Jones Lang LaSalle to market the property. The 26-story tower is located near the foot of Alexandra Road in Singapore.

APL, NOL’s liner-shipping subsidiary, is in the middle of a global effort to reduce costs by as much as $500 million in the coming year. After NOL announced a first-quarter loss of $254 million, APL, the world’s seventh-largest container line by vessel capacity, started laying off as many as 400 employees at offices around the world.

Lua Cheng Eng turning in his grave now. Purchase of APL big mistake.

 

[wikiphile]

Re: NOL sells building, layoff 400 staff

Lua Cheng Eng turning in his grave now. Purchase of APL big mistake.

Not that they had any choice anyway, the woes of NOL started even before they bought APL.

 

[Cestbon]

Re: NOL sells building, layoff 400 staff

Not that they had any choice anyway, the woes of NOL started even before they bought APL.

Why NOL buy APL???
APL full of debt.
Just want to expand faster meaning collapse faster.
MISC grow slowly and stable.
Very soon all big container shipping company will move to Tanjung Pelepas in Johore.

 

[no_faith]

Re: NOL sells building, layoff 400 staff

Very soon all big container shipping company will move to Tanjung Pelepas in Johore.

Maersk transshipment point is already there. They also bought P&O.

 

[Cestbon]

Re: NOL sells building, layoff 400 staff

If you drive thru Tanjung Pelepas 10 year ago, 5 year and now .
You will see it really grow. From few container hoist to now I think more than 40 crane/hoist.

 

[The Penetrator]

Re: NOL sells building, layoff 400 staff

NOL also nearly buy Hapag Lloyd some years back , when business was still healthy .

 

[johnny333]

She is right of course. because if others buy nol, they will relocate all their terminals to cheaper locations and our ports will be ghost towns.

Didn't some of these shipping companies move to JB

Have any of them returned to Spore or have they found Malaysia a better place to do business?

 

[Loofydralb]

Didn't some of these shipping companies move to JB

Have any of them returned to Spore or have they found Malaysia a better place to do business?

Maersk never looked back. I think now Maersk even though not making great strides, is not in as dire straits.

So NOL shares can keep cos Temasick will never give it up cos GDP will surely plunge if that happens. Imagine those cranes at Keppel, Pasir Panjang and Jurong turn silent.

Then comes the knock-on effects on logistics industries, the prime movers, the trailers, the warehouses, the people, serving all these will be jobless. They might just have to look for a job in Tanjung Pelepas!

How ironic will that be?

 

[Loofydralb]

The Prison Service.

Don't be surprised if prisons are outsourced to the private sector.

No way prison can be outsourced in Singapore as there are currently no legislation to tax the users nor taxpayers for it.

Because the ones winning the bid for running the prisons will be they themselves. How to profit when you take from your own pocket?