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NOL
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HLJHLJ
Veteran |
26-Jun-2008 00:00
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Business is both homework numbers and guts feeling/timing. Good homwork but bad timing is bad . Likewise, good timing, back numbers are bad as well. The two must tango! That's why in business, you need Ah Beng with good business acumen and Professionals with good calculation. ha.....
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shplayer
Elite |
25-Jun-2008 19:52
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Yes, I am sure Temasek did their homework when they invested in Shin Corp, Barclays, Telecomsil, UBS, Merrill Lynch, .....just to name a few. Despite their risk/reward assessment, many 'Honest Mistakes' were made?
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arowana1
Member |
25-Jun-2008 18:06
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wah tis kind of statement can make me lose sleep... all our money pumped into foreign banks so far bleeding like a severed major artery.
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jasonongsc
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25-Jun-2008 15:37
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no risk, no gain. guess temasek would have done their homework before going for the bid | ||||
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zhuge_liang
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24-Jun-2008 23:55
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NOL holds onto market-bucking gains in afternoon session as robust May operating data overshadows uncertainty over outcome of Hapag-Lloyd saga. "Year-to-date rate and volume growth are now clearly above our full-year forecast. While we originally expect some rate moderation in 2H, we think our assumptions appear to be too conservative," says Credit Suisse in note; maintains Neutral rating, $3.70 target price. Broker tips container shipper to report another good set of numbers for June, says rate hikes, fuel surcharges kicking in on Transpacific contracts may mean rates stay strong through 2H. But broker adds, "potential overpaying for Hapag-Lloyd could be near term negative catalyst;" sources tell Dow Jones Newswires company plans to bid between US$6 billion-US$7 billion for Hapag-Lloyd within a month. So worries over whether company will be drawn into bidding war, questions over funding for deal may cap potential for further share price gains. |
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zhuge_liang
Supreme |
24-Jun-2008 23:51
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NOL slightly outperforming market after robust operating data reassures investors, overshadows any worries on talk company set to raise large loan. "NOL's operating performance for May remains strong in the face of weak macroeconomic sentiment," says Morgan Stanley. Broker reiterates Overweight rating, unchanged $4.80 target, says market may be being overly pessimistic on NOL's operating performance this year. But Lehman Brothers is more cautious, says "although year-to-date revenue is tracking ahead of our estimate, costs are also higher than expected;" maintains Equalweight rating with unchanged $3.70 target price. Aside from concerns over high fuel costs, talk that company is seeking to raise large loan to fund potential buy of Hapag Lloyd may also be worrying investors. Source tells Dow Jones Newswires that NOL may be willing to pay US$6 billion-US$7 billion for Hapag Lloyd, but adds will not necessarily need bank loans. |
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zhuge_liang
Supreme |
24-Jun-2008 23:49
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Citigroup reiterates NOL at Sell with unchanged $2.70 target price despite company's release of strong operating data. Broker says container shipper''s operating numbers show volume in line with recent trend, freight rates look to be covering higher fuel costs. But broker is concerned by recent speculation company may be seeking US$5 billion loan, potentially to engage in M&A activity; says "we only see added risk." Broker notes company has shown interest in German shipping company Hapag-Lloyd, says any transaction would likely be larger than NOL's market cap, thus pricing of any deal could have "substantial effect on current NOL shareholders." Warns return on acquired assets could easily fall below cost of debt in tough environment. | ||||
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HLJHLJ
Veteran |
24-Jun-2008 21:35
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TA shows it is stil bearish. MA crossover not merging yet. I'll wait for a while. | ||||
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Andrew
Master |
24-Jun-2008 20:51
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HL is the most profitable company in TUI stable, so most likely TUI is not going to let it go easily. Come to think of it, NOL may actually avoid an integration issue by keep both entity separate, without the loss of efficency. This is because HL(Europe) and NOL(Asia & US) complement eachother very nicely. I hope that can continue to give higher than CPF interest. Hi shplayer, Thanks for correcting me......to many Sengs, Hangs and Hengs... |
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EastonBay
Master |
24-Jun-2008 20:10
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however, one must question the timing of the purchase... with the world economy developing into a very uncertain stage, if demand shrinks, it doesn't matter if you are world no 1 or 2 or 3; you get hit. In fact, you are worse off because you have all these excess capacity. | ||||
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Fairygal
Veteran |
24-Jun-2008 19:29
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Yes. Agreed with Hercules. Someone is trying to press the price down based on what I see, and with a 450+ lots done after closing hours to $3.15, 3 cents lower than last done price at 5 pm, someone is buying up. The vol these days are high for NOL too. If there is selling, there is buying as well. Just my personal view. | ||||
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hercules
Member |
24-Jun-2008 18:58
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NOL is a company big enough not to repeat the indigestion caused several years back. Furthermore once successful, they will become the world's third-largest container-shipping firm by capacity. Its pretty hard to imagine such company trading below $3 in singapore stock exchange. If everyone is selling NOL, then who is buying? Perhaps those who call for SELL.
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shplayer
Elite |
24-Jun-2008 09:20
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If I remember correctly, last time the rumour was Hapag Lloyd to buy/ or merge with NOL. That was ok as HL is bigger fish than NOL.....i.e. big fish eat small fish...easy to digest.....and NOL shareholders in for potential windfall. Now, it is NOL buy HL.....minnow trying to eat barracuda......indigestion due to high debt, interest and if container rates go south, RED, RED, RED. Several years back, NOL did the same thing with APL......indegestion for several years.
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shplayer
Elite |
24-Jun-2008 08:22
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DBS bought Dao Heng Bank (owned by Quek Leng Chan).....not Hang Seng.
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jasonongsc
Senior |
24-Jun-2008 00:59
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hmm thought that the last time rumours of acquisition brought the price up to $6+ ? any comments anyone ? | ||||
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Andrew
Master |
23-Jun-2008 23:07
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This could be the worst thing to happen. If they start a bidding war with Hamburg City Government than it is going to like DBS buying Heng Seng Bank. More Debt, More Interest to service, Restructuring and Rebuilding cost......WOW...what a mess. Anyway, I think Temasek has paid enough school fee alreadi, Singapore only need to not spend money on a few new expressway....Like the SengKang-City Expressway cost S$14,000,000,000.00 over 10 year (Izzit, did CNA reported wrongly or I heard wrongly S$14B for roads). Let us all hope the Hamburg City garment can keep their pride, the Hapag Lyoyd. Number 8th eating number 3 is too big a hat for NOL..... |
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shplayer
Elite |
23-Jun-2008 20:40
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Reason for the price drop is probably cos market is spooked by the news of potential buyout by NOL of Hapag Lloyd....that NOL, may suffer another indegestion. The speculated price is USD 5-7 b or more. NOL's Mkt Value (based on S$3.20 per sh and SD:S$ 1: 1.37) is USD 3.44b and NAV is USD2.75b. Market has not forgotton NOL's previous foray in the purchase of APL..........it got serious indigestion for several years. Fortunately they brought in the then CEO, Flemming, who steered NOL to calmer waters. Unfortunately he was a victim of Madam's witchhunt to get rid of foreign talents and he was replaced by DL who was very fortunate to be at the right place at the right time (after his failure in politics).....but did nothing to take NOL into the next lap. Mkt is also probably concerned about Temasek's track record in their M&A deals.........
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xingglobal
Member |
23-Jun-2008 20:25
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NOL may be asking for money for the acquisition ... remember the story of APL ......... that drives NOL price to cents level in the past .........
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singaporegal
Supreme |
23-Jun-2008 20:01
Yells: "Female TA nut" |
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TA charts look pretty bad. Acc/Dist and Chaikin heading south rapidly. | ||||
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arowana1
Member |
23-Jun-2008 14:12
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is this considered good news? > 11:10 23Jun08 RTRS-UPDATE 1-Singapore'-s NOL in talks to raise $5-7 > billion-sources > > (Adds background) > > By Koh Gui Qing and Saeed Azhar > > SINGAPORE, June 23 (Reuters) - Singapore's Neptune Orient Lines > <NEPS.SI>, the world's eighth-biggest container shipping firm, is > in talks with banks to take up a $5-7 billion syndicated loan, > sources familiar with the situation said. > > Talks for a loan come as German tourism group TUI <TUIGn.DE> > Chief Executive Michael Frenzel tours Asia to market his company's > container shipping business Hapag-Lloyd, which the German group has > put up for sale and NOL is considered a likely bidder. > > Hapag-Lloyd is valued by analysts at around $7 billion, > including debt. > > A spokesman for NOL declined to comment. The shipping firm is in > talks with Singapore's three local banks DBS Group <DBSM.SI>, > Oversea-Chinese Banking Corp <OCBC.SI> and United Overseas Bank > <UOBH.SI> as well as with some foreign banks for the loan, a source > close to the situation told Reuters. > > A second banker said that "NOL is exploring this." > > "Yes, there have been informal talks," he said. "The sum is > northwards of $5 billion. The range is $5-7 billion." > > The banks expect to receive a formal proposal for the loan this > week, he said. > > A source told Reuters earlier this month that TUI's Frenzel is > set to meet NOL in Singapore during his tour in Asia. NOL, which is > about two-thirds owned by Singapore's state investor Temasek > [TEM.UL], has already been in talks on Hapag-Lloyd and is seen as > one of the top bidders. > > A source told Reuters last week that TUI, which is hiving off > Hapag-Lloyd to focus on tourism, is forecasting Hapag-Lloyd'-s > sales to rise 19.8 percent this year to $9.7 billion and reach > $11.7 billion by 2010. > > Frenzel is prepared to meet Orient Overseas <0316.HK> (OOCL), > the world's ninth-biggest shipper, in Hong Kong, the source said. > > In Tokyo he will meet Japanese market leader Nippon Yusen KK > <9101.T> (NYK), the world's tenth-biggest container shipper. > > Shipping experts think the group of potential bidders from Asia > could include China Shipping Container Lines <601866.SS> (CSCL), > Cosco <0517.HK> STX Pan Ocean <028670.KS> and Hyundai Merchant > Marine [HYGR.UL]. > > In Europe, world market leader Maersk <MAERSKb.CO>, > Switzerland's MSC and France's CMA CGM are considered possible > suitors. (Editing By Ovais Subhani) > ((Guiqing.Koh@-thomsonreuters.-com; Reuters Messaging; > guiqing.koh.-reuters.com@-reuters.net; +65 6403 5665)) Keywords: > SINGAPORE NOL/ |
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