Better for NOL to list logistics unit than to sell it
THE confirmation by Neptune Orient Lines (NOL) that it is considering selling off its logistics unit or listing it as a separate entity comes as the logistics and shipping company explores desperate measures to keep the group afloat.
While a spin-off listing could prove to be a masterstoke, the option of selling the logistics business appears puzzling and may in fact pave the way for the company to eventually get rid of its other assets.
NOL has cautioned investors that these considerations are preliminary and exploratory in nature and are part of continuing evaluation of options to improve the group's strategic positioning and performance. But the fact remains that rescue measures have to come fast, the reason being that the group is in dire straits.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters