atans1

Lui not the only ex SAF underperformer

In Shipping, Temasek on 10/09/2015 at 4:39 am

“It’s almost like obituaries and eulogies without the flowers,” Transport Minister Lui Tuck Yew’s response to the flood of e-mail he has received since he said he was leaving politics.

He’s not the only ex-SAFer that consistently outperforms:

In July

Maersk Shares Jump on Strong Results and Share Buy-BackShares in Denmark’s A.P. Moller-Maersk jumped as much as 8.6 percent on Thursday after the shipping and oil group reported second-quarter profits ahead of forecasts and started a $1 billion share buy-back program.

But NOL made only a tiny net profit in April-June after six straight quarters of losses.

NOL Group today reported a 2Q 2015 net profit of US$890 million. Excluding the US$887 million gain on the sale of its supply chain management business, NOL achieved a net profit of US$3 million in the second quarter of 2015, compared to a net loss of US$54 million in 2Q 2014.

(Update at 10am) Can we really be a meritocracy if Lui lasted so long in his post as minister of tpt and the CEO of NOL continues to run NOL?

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