NOL run into the ground by PAP scholar Generals, now being sold to French. WTF

[Hans168]

cedric a failure in politics n now a failure in corporate world
but still a rich man nonetheless........... it pays to be useless

 

[enterprise2]

cedric a failure in politics n now a failure in corporate world
but still a rich man nonetheless........... it pays to be useless

What was that term Mou used to describe Wenger... ' specialist in failure'! We got a whole bunch of them!

 

[Brightkid]

cedric a failure in politics n now a failure in corporate world
but still a rich man nonetheless........... it pays to be useless

Just 'useless' is, well, useless.

Must be useless, connected (only to the A-Lee's-trocratic ) and obedient then can be rich without accountability nor brains.

 

[Papsmearer]

Just 'useless' is, well, useless.

Must be useless, connected (only to the A-Lee's-trocratic ) and obedient then can be rich without accountability nor brains.

Cedric the Fool has been very secretive about his family life. All I can find out is that he is married with 4 children. Unlike other MPs who disclose their wife's name and even their children's, Cedric the Fool makes no such revelation. This really brings me to ask who is his wife? Is she a Kwa or a Lee or related to them? Is that how he can go from one golden job to another? This sort of thing has to be made known to the public. What if his constituency regularly awards large contracts to a company run by his wife. We wouldn't know because we have no idea who his wife is.

 

[enterprise2]

I

Cedric the Fool has been very secretive about his family life. All I can find out is that he is married with 4 children. Unlike other MPs who disclose their wife's name and even their children's, Cedric the Fool makes no such revelation. This really brings me to ask who is his wife? Is she a Kwa or a Lee or related to them? Is that how he can go from one golden job to another? This sort of thing has to be made known to the public. What if his constituency regularly awards large contracts to a company run by his wife. We wouldn't know because we have no idea who his wife is.

U want to tackle his Wife??

 

[steffychun]

How did this happen? NOL, was one time the national flag carrier of singapore. In the 70s and 80s, the two companies Singapore Airlines and NOL were the face of singapore to the world. Its unbelievable to me that such a large organization like NOL can be run into the ground and sold to a French company. Its just years of mismanagement and bad choices. Now, there are comedians like ex SAF scholar General Ng Yat Chung (a former arty officer) being the CEO and PeeM Gay Loong;s cousin Kwa Chong Seng (petroleum Industry) as the Chairman of the Board. How much money did the taxpayers lose on this cock up. Fucking PAP. I suppose the WP will remain silent on this in Parliament. Its unbelievable that a GLC can be sold like that.

Singapore container shipping firm Neptune Orient Lines (NOL) said at the weekend it was in talks with Denmark's A.P. Moeller-Maersk and France's CMA CGM SA over a potential sale of the company.

Maersk profits down due to freight and oil slumps (06 Nov 15)
Maersk Line to slash 4,000 jobs by end-2017 (04 Nov 15)
Maersk Oil to cut 1 in 10 jobs amid price slump (26 Oct 15)

In a statement filed with the Singapore Exchange on Saturday, NOL said the talks were "preliminary" and were in relation to "a potential acquisition" of the Singapore firm.

"NOL has a duty to assess all options to maximize shareholder value and improve its competitiveness," the statement said.

It added however that "there is no assurance that any such discussions will result in any definitive agreement or transaction, or that any offer for NOL will be made".

Marseille-based container transportation and shipping company CMA CGM has made a preliminary offer for NOL, which has a market value of Sg$2.7 billion ($1.9 billion), Bloomberg News reported, quoting people with knowledge of the talks.

CMA CGM is carrying out due diligence on NOL, which is 65 percent owned by Singapore state-linked investment firm Temasek Holdings, although the French shipping firm has not been granted exclusivity, Bloomberg added.

Maersk is also talking separately with NOL but the discussions are less advanced, Bloomberg said.

NOL has been racking up losses due to sluggish global trade and lower freight rates.

Last month, the company reported a net loss of $96 million for the third quarter, widening from a loss of $23 million in the same period the year before.

NOL this year sold its logistics business -- APL Logistics Ltd. -- to Japan's Kintetsu World Express Inc. for $1.2 billion.

Several scholar generals study in France what. So they are selling it to their old friends.

 

[enterprise2]

Should sell SPC, it's going nowhere.

 

[shittypore]

Will Aunty Ho be calling tis Fat General and fook him for sinking all NOL'S Tankers and what excuses will Fat General say to Aunty Ho?

 

[Hans168]

Will Aunty Ho be calling tis Fat General and fook him for sinking all NOL'S Tankers and what excuses will Fat General say to Aunty Ho?

Ho Say Leow????????????

 

[Papsmearer]

Will Aunty Ho be calling tis Fat General and fook him for sinking all NOL'S Tankers and what excuses will Fat General say to Aunty Ho?

One is a Whore (Jinx) and the other is a Fool (Cedric). Together, they are a foolish whore. Then ask why NOL is so fucked up today.

 

[ahpong]

Should sell SPC, it's going nowhere.

I thought SPC already sold to Tiongs?

 

[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.

 

[Cerebral]

I thought SPC already sold to Tiongs?

I think so too. It is no longer under Singapore

 

[Cerebral]

I think NOL is a damn good example against high ministeral salaries. The Government claimed that these mutherfuckers would have earned more outside and NOL saga clearly shows that in open waters, they fucking sink.

 

[virus]

Will Aunty Ho be calling tis Fat General and fook him for sinking all NOL'S Tankers and what excuses will Fat General say to Aunty Ho?

it is unlikelee he will say it is a dishonest mistake and ask to hentak kaki.

 

[virus]

I think NOL is a damn good example against high ministeral salaries. The Government claimed that these mutherfuckers would have earned more outside and NOL saga clearly shows that in open waters, they fucking sink.

you are wrong. with NOL sold, he will be given the golden handshake with enough doigh to lap it up in vegas with a stripdancer for a month.

 

[frenchbriefs]

you are wrong. with NOL sold, he will be given the golden handshake with enough doigh to lap it up in vegas with a stripdancer for a month.

i think he means that in the real world,these paper generals are completely useless.

 

[eatshitndie]

i think he means that in the real world,these paper generals are completely useless.

there's still some value in the u.s. issued medal. it's selling for usd32.99 on ebay. :p

usd32.95 on medals of america site.....

http://www.medalsofamerica.com/Item...ng&utm_medium=cpc&utm_campaign=(roi)+shopping

 

[Papsmearer]

I think NOL is a damn good example against high ministeral salaries. The Government claimed that these mutherfuckers would have earned more outside and NOL saga clearly shows that in open waters, they fucking sink.

To my knowledge, there has not been one good example of a SAF ex scholar general being parachuted into a GLC and doing so well that he becomes internationally recognized and respected and also at the same time double his company share price, etc. Quite the opposite, all we are seeing is absolute failure. Looking at SMRT too as a further example it does not work.

 

[Papsmearer]

I think NOL is a damn good example against high ministeral salaries. The Government claimed that these mutherfuckers would have earned more outside and NOL saga clearly shows that in open waters, they fucking sink.

To my knowledge, there has not been one good example of a SAF ex scholar general being parachuted into a GLC and doing so well that he becomes internationally recognized and respected and also at the same time double his company share price, etc. Quite the opposite, all we are seeing is absolute failure. Looking at SMRT too as a further example it does not work.