I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

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Wednesday, 16 February 2011

NOL posts Q4 net profit of US$177m

SINGAPORE - Neptune Orient Lines, the world's seventh largest container shipping firm, reported on Wednesday better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared.

NOL, around two-third owned by Temasek Holdings, posted fourth quarter net profit of US$177 million compared to a loss of US$211 million a year ago. Its results beat the average analyst estimate of US$121.9 million according to Thomson Reuters I/B/E/S.

For the whole of 2010, NOL made a net profit of US$461 million compared with a loss of US$741 million in 2009.

The global shipping industry suffered its worst downturn in history in 2009 as the recession hit global trade and forced many companies to lay up ships and cut jobs.

NOL said that 'notwithstanding the improved performance for 2010, market conditions are uncertain'. -- REUTERS
Posted by Createwealth8888 at 19:21
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