SINGAPORE (Nov 2): Ship operator Neptune Orient Lines reported another large quarterly net loss, but more important than the figure is whether state-investment fund Temasek will succeed in selling its stake in the company, “which could lead to a significant re-rating of the stock”, CIMB says.

CIMB notes that a weak external environment has hurt NOL significantly.

Slumping freight volumes wiped out bunker cost savings and the firm reported a loss of US$87 million ($121.8 million), up from $14 million a year ago.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook