Hot stock: NOL drops after announcing pre-tax losses for three years

NEPTUNE Orient Lines (NOL) fell 0.04 cent within the first half hour of trading on Monday, and was one of the top-traded stocks.

On Friday, it gave notice that it had recorded pre-tax losses for three consecutive years. For the full year of 2014, the national shipping line's net loss more than trebled to US$260 million from US$76 million. Its full-year pre-tax loss was US$216.9 million, against 2013's US$15.8 million.

As at 9.37am on Monday, it was trading at 97.5 cents.