Double confirm: Paper general made Temasek and other NOL shareholders poorer too.
Not that Ho Ho Ho or other S’porean decision makers seem to care. Good luck SPH shareholders.
More evidence that NOL was sold when the cycle was about to turn &Sale completed in mid 2016).
Deutsche Bank is turning positive on Asia Pacific’s shipping sector with the strongest preference for the container sub-segment, followed by tanker and dry bulk.
This comes on the belief that industry conditions have now fundamentally turned, with the peak in deliveries of mega vessels and the recent acceleration of industry consolidation in recent years, which in turn means operators have the potential to achieve stronger price discipline.
https://www.theedgesingapore.com/tide-turning-favour-regions-shipping-sector-says-deutsche
Meritocracy? What meritocracy?
— Why PAP doesn’t do accountability, meritocracy
— Meritocratic hubris/ Who defines “meritocracy”
Thoughts of a Cynical Investor 
As I mentioned before, he should have looked closer at the Baltic Dry Index. At least he could have bargained for a higher selling price … instead of what was effectively a capitulation, selling at a multi-year market low.
Btw the BDI gives a good general picture of how well S’pore economy is doing, since we’re so dependent on world trade & exports. So it doesn’t really matter how “capable” or “smart” the govt is … Sinkies are like leaves on the wind … good times depends on how Asia & the rest of the world are doing.
Looking at 2011 & 2015, it appears that PAPies time the GE to after pickups in bottoms off BDI … the one in 2015 occurred just after a monster 100+% jump in BDI (and it was starting to turn down again).