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.
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