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!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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Monday 31 October 2011

NOL sinks into red with Q3 loss of US$90.22m, warns of FY2011 loss

By CARINE LEE


Neptune Orient Lines (NOL) Limited on Monday reported a net loss of US$90.22 million dollars for the third quarter ended Sept 30, 2011, compared to a net profit of US$282.63 million a year ago.

The group said that the net loss is mainly due to higher costs associated with higher volumes and higher bunker costs.

Revenue for the quarter fell 9 per cent year-on-year to US$2.21 billion from US$2.43 billion on the back of lower liner revenue from lower freight rates across most major trade lanes.

Consequently, earnings per share (EPS) for the quarer was negative 3.53 US cents. A year ago, EPS was 10.95 US cents.

For the nine months ended Sept 30, NOL posted a net loss of US$157.76 million from a net profit of US$283.46 million previously.

However, year-to-date revenue crept up 2 per cent to US$6.81 billion from US$6.65 billion a year ago, due to increase in logistics revenue from higher volumes across the various logistics businesses.

Year-to-date EPS for FY2011 is negative 6.12 US cents. A year ago, EPS was 11 US cents.

'With continued low freight rates in container shipping and slowing trade demand, NOL Group expects to report a loss for the full year in 2011,' said the global container shipping and logistics services provider.



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