In my previous post, I made a summary of Neptune Orient Lines (NOL) and about its latest quarterly results. I believe its current CEO, Ng Yat Chung, should be able to pull it through to future profits. I have personally crossed path with several people who have worked with NOL's CEO before, and is able to obtain some insight into how he strategize and manage. I have faith in him and his ability, just like the many people who have worked with him.
Meanwhile, the below are some news regarding NOL's logistics business:
20 August 2014 NOL clarifies reports on plans to sell logistics business
SINGAPORE - Following media reports on Wednesday that Neptune Orient Lines (NOL) is planning to sell its logistics business, the Singapore-listed shipping company said such considerations are "preliminary and exploratory in nature".
Clarifying the report in a filing to the Singapore Exchange, NOL said it "continually evaluates all available options to improve the strategic positioning and performance of its businesses".
"These include considerations of a potential sale or initial public offering and listing of its logistics business as a separate, stand-alone unit from NOL," the company added.
It also stressed that "there is no assurance that any definitive transaction for the sale or an IPO of NOL's logistics business will be concluded".
Reuters reported early Wednesday morning that NOL, which is 67 per cent-owned by Temasek Holdings, is looking to sell its logistics business for more than US$750 million (S$935 million).
Shares in NOL jumped 3 per cent to their highest level in more than three months after the news.
20 August 2014 NOL shares jump 3% on news of potential logistics unit sale
SINGAPORE (Reuters) - Shares in Singapore's Neptune Orient Lines jumped 3 per cent on Wednesday to $1.01, their highest level in more than three months, on news that it is considering selling its logistics unit.
Reuters reported earlier that NOL, a shipping and logistics company in which Singapore's state investor Temasek Holdings owns a 67 per cent stake, is hoping to sell its logistics business for more than US$750 million (S$935 million).
20 Aug 2014 10:36 NOL: Considering Sale Or IPO Of Logistics Business
Neptune Orient Lines Limited continually evaluates all available options to improve the strategic positioning and performance of its businesses. These include considerations of a potential sale or initial public offering and listing of its logistics business as a separate, stand-alone unit from NOL. These considerations are preliminary and exploratory in nature. There is no assurance that any definitive transaction for the sale or an IPO of NOL's logistics business will be concluded.
20 August 2014 Logistics arm's sale or IPO 'preliminary and exploratory': NOL
SHIPPING and logistics company Neptune Orient Lines (NOL) on Wednesday clarified a Reuters report that said it is looking to sell its APL Logistics division for more than US$750 million and cited anonymous people familiar with the situation.
"NOL wishes to state that it continually evaluates all available options to improve the strategic positioning and performance of its businesses.
"These include considerations of a potential sale or initial public offering (IPO) and listing of its logistics business as a separate, stand-alone unit from NOL.
"These considerations are preliminary and exploratory in nature. There is no assurance that any definitive transaction for the sale or an IPO of NOL's logistics business will be concluded," it said.
NOL is made up of two major divisions - APL Logistics, a global freight management and logistics business, and a separate container shipping business named APL.
Reuters had reported that the company plans to launch a process in the autumn to find a buyer for APL Logistics and has hired banks to assist with that effort, according to sources.
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