Enjoy the video. Like and subscribe, etc etc. For other Singapore related content, feel free to check out the Singapore playlist: th-cam.com/play/PLKtxx9TnH76TS34YoUFNgTdAB1qNE4wTK.html
Does Asianometry ever criticize China mainland corruption or Taiwanese corruption? All subject matter of Asianometry criticizes other Asian countries except mainland China and Taiwan. Asianometry should be spelled "Pro-mainland Taiwan Pride" or "CCP funded Taiwanometry".
I have worked on APL ships since 1990. The management under NOL was idiotic. I was on the APL Eisenhower when NOL took over. They had not negotiated a new pay scale on that ship so were stuck with the old APL rate. Your pay rate can not be reduced without breaking articles ( signing you off the ship). You can not be signed on board without a pay scale. That is the law. The captain called whole crew into his office and ordered us to sign off articles he had the top of paper covered to keep anyone from seeing it. As if we did not know what articles looked like. We all signed and went right to radio shack to turn him into US coast guard. When we signed off and not back on that ment he had no crew. You have no idea how illegal that is. I was interviewed by US coast guard 3 times on that ship and the chief eng god rest soul Tom Freeman killed himself. I was only on that ship for 6 months. Another example is the APL MV China. I was on a ship in the pacific in late 1998. There was a typhoon that month and we could not out run it. We did what every ship has always done. If you cant out run it then stay out of its path and let it go by. Not the china. We watched in horror as that captain maintained heading and sailed right through the typhoon. That ship was beat to hell and had to limp into nearest port. Its not the cost of storm damage if you can not get the cargo to its destination on time and in good shape then you have to cut your shipping rates. That cost the company a LOT of money. Too many other examples to go on. NOL was managed by idiots.
This happens when you put a military man who knows absolutely nothing about the business in charge. Everything he touches, becomes losses. If he ever has a shot as Google CEO, Google will go bankrupt within a year or two, and sold it off for cheap, and make it seems "profitable".
In the last year CMA CGM absorbed remaining commercial business leaving APL to just government/military business. NOL was renamed ‘CMA CGM Asia Pacific’ too - wiping away the last remnants of NOL. It’s just a distant memory now
In shipping, size (=economies of scale) and timing (invest cheap in down cycles to rip benefits during the good moments) are the keys to success. NOL did not go for (ultra) large ships and that made it impossible to compete profitably. Already in 1996 when Maersk launched the post-panamax "behemoth" Regina Maersk with 6,000teus there were many voices saying it was too big. I cannot find it online but I remember NOL management being on of those saying going larger than Panamax (+/- 5,000 teus) wasn't a good idea. Now the "standard" is 20,000+ teu ships. Those critical voices keep coming back with every new series of larger ship but those who do not evolve in size inevitably come out loosing.
Flush with cash from the sale of NOL to the French, Temasek Holdings extended a loan to troubled PIL, paving the way for a possible backdoor re-entry into the shipping scene.
Former CEO NYC was incompetent but one highly overlooked area is CMA CGM, which everybody raved about their management. NOL APL posted a profit in 2017 but sank into deep losses in 2018 and 2019. That's perspective for those who thought CMA CGM was the saving grace, which they weren't.
I once went to NOL in Alexandra to interview for an office job. A cemetary is Mardi Gras in full swing by comparison. Of course I was not hired as I have a pulse.
Agreed. These incompetant clown good at bringing down a reputable coporation. One may wonder if accountability applies in these cases, or these clown still receive exobitant bonus?!!
It is not only NOL, "RICKMERS GROUP" also gone around end May 2017. I would say their investment to "big boat" doesn't endeavor them out of the cost and finally got Bankrupt. And the fresh one of Singapore (in 2020) should be Mr. OK Lim's "OCEAN TANKER" & its subsidiaries.
Putting rigid military men to run a business is a bad idea, nothing good comes out of it. Ng Yat Chung - NOL/SPH, Desmond Quek - SMRT! Any others? Temasek never learns.
Both of them are were meant to be strategic investments for Singapore. NOL was meant to improve shipping to and from Singapore, thous helping the local ecnomy and SMRT is obviously mainly desinged to improve local public transport. NOL is not needed anymore and has been sold and SMRT does not actually have to turn a profit, as it very much can be seen as a public service and putting taxes into it makes sense.
@@andrewsitu3472 Heard from somewhere that SMRT is planning to downsize it's bus business also as it's relatively less profitable to, say, it's rail business
Thanks for the video, the shipping industry is very cyclic and tightly coupled to the economy as a whole. I believe a lot of people in the comments did not fully listen to your research and just lump the entire issue to "military" management seemingly ignoring all the other non-military linked CEO and like you have said, it is not that simple. From your video it is very clear that without huge capital to cushion any fall and to introduce economy of scale when there is good opportunity, it hard to survive in the shipping industry. I agree to your conclusion that it is a good decision to pivot out of the industry completely. Any chance to do a video on the Port Operators of Singapore?
I had some dealings with NOL at one time in the early days as a vendor doing some IT consulting work. The senior management were a bunch of bureaucrats, having big degrees or seniority but pretty much useless in real life practice. They pretty much ran the company into the ground. Your comments about NOL bringing in western staff are also accurate, unfortunately these western "expertise" were really rejects who probably couldn't make it in the US or elsewhere, so they got jobs in Asia instead. Together with lousy local upper management, the company was doomed. Deep down, the local Chinese Singaporeans still thought of the Brits, Americans and other westerners as superior. Different note but in the same vein, the Singapore government setup the National Institute of Technology offering IT courses with western instructors. It was a common joke among the foreign expats working in Singapore at the time. I interviewed numerous local graduates with big degrees, all good at pushing papers, but none worth hiring. Can't blame the poor local students though, I had a chance of talking to a few of these western instructors, they were retards and rejects who brought out-of-date theories and handed out degrees not worth the paper they're written on. It was a case of some incompetent moron being laid off as a low-level analyst in the US or UK, hey how about applying for a teaching job in Singapore. Good video, good history, good analysis and summary. Reminds me of those days, working with many nice local people.
Not sure how reliable your comment is, given that there is no degree granting institute named the "National Institute of Technology". The closest I can think of is the Nanyang Technological University (ranked 35th in the world by the Nature journal). Perhaps you are a wee bit biased (and blinded by the same). Sidenote: I'm a Singaporean but I'm an academic in an Australian G8 uni. (Edit: I stand corrected: There IS a SINGAPORE Institute of Technology - but it appears to have been established in 2009 (early days with NOL?) and seems to be oriented towards providing continuing education to mature students (bascially students with previous polytechnic diplomas - i.e. people who pursued a trade diploma as opposed to an academic degree after high school) who did not have tertiary degrees. Not to put them down (apparently my best friend's wife received a degree from SIT - in radiotherapy) but they are hardly the cream of the crop for highly technical positions).
Sorry, I seemed to have struck a nerve. Some of the best and nicest people I worked with were in Singapore, at SIA (Singapore Airlines). Some of the most incompetent people I came across were also in Singapore, at BP and a local bank (don't remember the name).
Fantastic Leadership by Paper Army General . How Wonderful NOL then SPH "Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results" Albert Einstein
Thank you for the analysis. I wished local media would provide such in-depth analysis when covering said topic but it's just much easier to publish headline-worthy soundbites, gleam over the embarrassing details, and go back to reporting sex scandals than educate Singaporeans.
Maybe the girls are sexy 😏😉😂😂😂 jokes aside yep 😉👍 midiacorp could do better work then just thinking about making money out of scandal's and pretty naughty girls . But we know that big mídia corporation today only care about money and not information to give to us (the public the viewers) that's one reason people don't believe in them anymore and are more political divided as never before. They say we're neutral but we know they're not they love some party from right and left and others interest they have. Ah old midia they suck so much that they are losing some ground to alternative midia source's like this channel. I know well in my country Brazil globo tv and others are kinda the same as Singapore midia outlets.
Fantastic Leadership by Paper Army General NOL then SPH "Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results" Albert Einstein
If ure actually bright, ull realise it has nothing to do with him being an army general. U have nothing but only Facebook sentiments to back ur copy paste statement. Not to mention, in case u haven't work a day in ur life in the corporate world, ull realise that the downfall of the company is on the various department heads along with managers, not the CEO alone. NOL, just like SPH, was alr screwed before the army general took over. If u think the leadership of one guy is soooo significant compared to actual major business factors, i question ur business acumen and logic. Not to mention, only blind sheeps downplay general's achievements by calling them paper generals when some of these generals emerge top of the US academy and serve their time in the Middle East and Somalia etc without the media disclosing their service. But what do you know since ur "facts" come from FB grp of the same woke sheeps
Probably NOL didn’t have the vision path set in the early times. Its a shame. However NOL ain’t the only shipping line from Singapore. PIL still running their trade lane pretty fine.
I walk-in for interview with Mr Kim,crew manager,3 time.but no vacancy.but I join the aet ship at late time.nol building .alexandra.give sweet memory as a seaman.thanks.
Strange that a CEO who sank a Singapore Gem is next made the CEO of another Singapore Gem, SPH. Does this happen elsewhere? NOL was turned profitable in less than a year by the French company! True to form, he again sank SPH
The one and only problem with Singapore is they always or should I say everything and every-time when they appoint the candidate to lead, that guy completely doesn’t know that particular industry at all! Worst zero commercial knowledge at all! The only criteria and credential is the candidates must have a string of PhD or the rank of Gen or must be from the inner circle. Correct me if I am wrong? Name me which SG companies are not? Absolute and total failure!
NOL also create jobs for Singapore Sembawang Shipyard when they build the ships used by NOL. Singapore government not only want a shipping company that help to export Singapore goods to other countries. They also want to create jobs after Singapore independence, due to very high unemployment rate.
2015 was also the year when not only Avengers 2 arrived but the 7th chapter of Star Wars and First Order war will break out Star Wars Episode 7 - Force Awakens taking place in 34 ABY 30 years after War of Endor ended.
Fantastic Leadership by Paper Army General NOL then SPH "Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results" Albert Einstein
Trains, planes and automobiles...and shipping, are good ways to make a fortune: start with a billion and end with a million. Wealth destroyers for shareholders, as Buffett would say (and not take his own advice, and lose money).
The ruthless Onassis treated his women the opposite of how he loved his ships. He once famously said to Jackie O, that the only place you'd find sympathy from him was in the dictionary between the words 'shit and syphilis'. But he did it his way, to his credit. As an investor however I'd avoid the shipping sector, now selling at rock bottom prices. I could be wrong though, and maybe it's worth a bet.
@@raylopez99 guess you know him personally, well i was in the Navy that's why I heard of him other than reading news about him that was all there is.... investing in shipping lines, nay i am not a businessman 🤠, a gunslinger.
Yeah, they are so good under then Mr Ho, that it picked up Micropolis from going to the dump, to compete with Seagate, only to relinguish it in 1.5 yrs with a staggering loss of $630mil in 1996 thereabout. That was the start of Mr Ho's stellar track record at Temasek.
@@macolet9711 Passport recognition is ALL about the "unwritten" political basis using the GDP per Capita economic data. Fact: GDP per Capita in 2020 Taiwan, ROC= $28,323 China, PRC = $10,516 So, wait until China overtakes the GDP per Capita of Taiwan.
In hindsight, it's very easy to make a SWOT analysis. The fact of the matter is that shipping is a capital intensive business. You may have to run for upto 2 decades without making a profit. The pandemic and current restrained capacity has artificially raised prices. Hanjin, Hyundai, MOL, YML, the list is endless and consolidating balance sheets is the way to go. The enterprise value of all shipping companies has gone down significantly 2008 onwards.
The Company was managed by Academically Brilliant Technocrats with very strong elitist and bureaucratic dispositions. The results speak for themselves.
This is what you get when you put a "paper general" in charge. The amazing advantage of being a paper general in SG is, no matter how you screw up, how big the screw up is and how many people are affected by your screw up, you will never be condemned. You just move on to another department/ministry/company and take over as the head, and likely fuck it up the same way again.
Poor leadership and management team, these people have no passion for the business and looking down from ivory tower only manage company by Kpi to increase their share options and built in golden parachute. Singaporeans should take umbrage on these paper tigers.
@@aadilansari5997 yes, prostitution is legal in Singapore. however, it is illegal to live off the proceed of the prostitute. ie you will be prosecuted if you are pimping.
With Covid19, SIA are facing same route of failure, selling shares and diluting investor's holdings, Temasek had to increase their investment when their share offering fail to attract investors. Long lockdown n closing of borders are making SIA into a hungry $$ burning machine (burning US$1 billion in 2020)
Good stuff and great video! I've been hearing about NOL's bad end for decades so I really appreciate this great summary. It's not a story you would necessarily learn from the Singaporean government. 😆 Loved your unbiased take though, there has been a lot of myth and rumour surrounding NOL's sale and finally this video cleared a lot of that up for me.
Why are people criticising the people running it, when it’s the industry that’s broken.. They could have followed Evergreen to purchased bigger vessels, but those aren’t necessarily going to be profitable in the long run. With covid and war drills around SEA region, things are more uncertain than before. Seems like they made good judgment to exit, gaining back several billion before a being bankrupt like hanjin.. That’s the dynamics of all businesses, go in the right time, exit at the right time.
The story of NOL is far more than the fall of a shipping company. It is both a reflection of a fatal shift in strategic thinking and a strategic failure. NOL was Singapore's truly homegrown merchant marine. A merchant marine is critical, it develops and maintain a country's shipping links with the rest of the world during hostile times. There are many Singapore-flagged vessels but nearly all of them are beholden to foreign owners of foreign countries. Countries that might turn on Singapore in hard times. Instead of seeing the strategic value of a domestic merchant marine shipping line, the rank-and-file of Singapore's ruling elite only sees the profit motive and shareholder value. Too many believe in the propaganda of Singapore as a "globalised city" and ignore that in times of hardships, nations turn on each other, "globalised city" or not.
Who is the CEO of NOL before the Mr umbrage? Analyse further ,Check also the CEOs of the govt linked companies before it is publicly listed in SGX,and later privatised. Eg intraco etc etc .Maybe you can learn something from this,?
They also had incompetent masters navigating their vessels...go read up on the apl china blunder Also there was a time where the crew were running a stowaway syndicate
Were those charters long-term? Otherwise it seems that NOL could have cut its costs more easily in the financial crisis. Also, what are the fixed costs which were removed by consolidation?
Back in the 90s Singapore took pride of having the worlds busiest port. I use to admire Singapore when Lee Kuan Yew was still alive. Now his son is at the helm everything Singapore does is just a publicity stunt.
A stunt wouldn't have billions in gov backing would it? Singapore's gov go long term in almost everything. If all this gov does is a publicity stunt, why is the education sector, precision engineering sector, environmentalists all aligning for the future with very clear and distinct trajectories and identified goals and outcomes? People like you open your mouth with 5mins of knowledge that you google. Read more.
Temasek could pour massive funds to rescue Singapore Airline,but allowed Neptune Orient Lines to be sold off. Wondering who actually made the decisions ???
Enjoy the video. Like and subscribe, etc etc. For other Singapore related content, feel free to check out the Singapore playlist: th-cam.com/play/PLKtxx9TnH76TS34YoUFNgTdAB1qNE4wTK.html
Does Asianometry ever criticize China mainland corruption or Taiwanese corruption? All subject matter of Asianometry criticizes other Asian countries except mainland China and Taiwan.
Asianometry should be spelled "Pro-mainland Taiwan Pride" or "CCP funded Taiwanometry".
Pakistan played a maJor role in that..
I have worked on APL ships since 1990. The management under NOL was idiotic.
I was on the APL Eisenhower when NOL took over. They had not negotiated a new
pay scale on that ship so were stuck with the old APL rate. Your pay rate can not
be reduced without breaking articles ( signing you off the ship). You can not be
signed on board without a pay scale. That is the law. The captain called whole crew
into his office and ordered us to sign off articles he had the top of paper covered
to keep anyone from seeing it. As if we did not know what articles looked like.
We all signed and went right to radio shack to turn him into US coast guard.
When we signed off and not back on that ment he had no crew. You have no
idea how illegal that is. I was interviewed by US coast guard 3 times on that ship
and the chief eng god rest soul Tom Freeman killed himself. I was only on that
ship for 6 months. Another example is the APL MV China. I was on a ship in the
pacific in late 1998. There was a typhoon that month and we could not out run it.
We did what every ship has always done. If you cant out run it then stay out of its
path and let it go by. Not the china. We watched in horror as that captain maintained
heading and sailed right through the typhoon. That ship was beat to hell and had to
limp into nearest port. Its not the cost of storm damage if you can not get the cargo
to its destination on time and in good shape then you have to cut your shipping rates.
That cost the company a LOT of money. Too many other examples to go on. NOL
was managed by idiots.
An idiot who will take umbrage at this comment
Awesome channel and content.
Hope you do more videos on Singapore. Perhaps the maritime industry? 😃
From a small fan from SG
The reason for the fall: Ng Yat Chung, Umbrage
What he did?
He was an incompetent fool.
My uncle used to be a Master with NOL..retired and continued with them as delivery captain..now fully retired
This happens when you put a military man who knows absolutely nothing about the business in charge.
Everything he touches, becomes losses.
If he ever has a shot as Google CEO, Google will go bankrupt within a year or two, and sold it off for cheap, and make it seems "profitable".
He is called Umbrage CEO. One year plus after NOL sold to CGM, NOL made profits again.
Make it gone within a month!
Military Generals are considered as PAP's gems. regardless of how they performed.
Do u have any idea how many tough fought wars these generals had to go through to earn their stars?
Zero!
@@baron17 yes, war with nobody.
In the last year CMA CGM absorbed remaining commercial business leaving APL to just government/military business. NOL was renamed ‘CMA CGM Asia Pacific’ too - wiping away the last remnants of NOL. It’s just a distant memory now
This is a brilliant documentary. Ex APL employee here. NOL was a great employer. Shame CMA CGM has erased all of the heritage.
Don't be rude bro
In shipping, size (=economies of scale) and timing (invest cheap in down cycles to rip benefits during the good moments) are the keys to success. NOL did not go for (ultra) large ships and that made it impossible to compete profitably. Already in 1996 when Maersk launched the post-panamax "behemoth" Regina Maersk with 6,000teus there were many voices saying it was too big. I cannot find it online but I remember NOL management being on of those saying going larger than Panamax (+/- 5,000 teus) wasn't a good idea. Now the "standard" is 20,000+ teu ships. Those critical voices keep coming back with every new series of larger ship but those who do not evolve in size inevitably come out loosing.
The story of the fall of Hanjin might be interesting for a future video?
Good idea. I'll take a look at it.
@@Asianometry do Evergreen n Yang Ming
@@bryantan7071 UASC also another interesting tale. Now owned by Germans.
@@Asianometry , add in the Malaysian International Shipping Corporation into your list too!
Flush with cash from the sale of NOL to the French, Temasek Holdings extended a loan to troubled PIL, paving the way for a possible backdoor re-entry into the shipping scene.
If PIL is run like NOL it will be bankrupt again.
Former CEO NYC was incompetent but one highly overlooked area is CMA CGM, which everybody raved about their management. NOL APL posted a profit in 2017 but sank into deep losses in 2018 and 2019. That's perspective for those who thought CMA CGM was the saving grace, which they weren't.
He now says "I take umbrage at your comment" 😂
I once went to NOL in Alexandra to interview for an office job. A cemetary is Mardi Gras in full swing by comparison. Of course I was not hired as I have a pulse.
I love the channel's content and I hope you continue to grow so others can see your videos man. Thanks so much for the regular uploads.
"Umbrage" lead by "example".
Now, Singapore Press Holdings (SPH) is being taken over by a non-media company. What an irony!
It was managed by an incompetent clown. The French turn around the company in less than a year to profitability.
@@wuhanqing2774 and brought the same fate/ending to SPH
@@wuhanqing2774 he won't retire ... most likely he will be invited to join board of another GLC
Haha later someone take umbrage...
Agreed. These incompetant clown good at bringing down a reputable coporation. One may wonder if accountability applies in these cases, or these clown still receive exobitant bonus?!!
He Will Take UMBRAGE
I took umbrage at this video. 😂
well, only Singaporeans will know what this means
Lol
AHHAHA
That's Paper Army General for U
Ha ha
Umbrage
Famous umbrage
Umbrage general
关門大將軍
Nol 关門
Sph 变相关門
下一站 又不知要去那里关
唉
It is not only NOL, "RICKMERS GROUP" also gone around end May 2017. I would say their investment to "big boat" doesn't endeavor them out of the cost and finally got Bankrupt. And the fresh one of Singapore (in 2020) should be Mr. OK Lim's "OCEAN TANKER" & its subsidiaries.
Putting rigid military men to run a business is a bad idea, nothing good comes out of it. Ng Yat Chung - NOL/SPH, Desmond Quek - SMRT! Any others? Temasek never learns.
Temasek is extremely profitable though, as well as the GIC, especially when compared to the Malaysian or Indonesian's funds.
Both of them are were meant to be strategic investments for Singapore. NOL was meant to improve shipping to and from Singapore, thous helping the local ecnomy and SMRT is obviously mainly desinged to improve local public transport.
NOL is not needed anymore and has been sold and SMRT does not actually have to turn a profit, as it very much can be seen as a public service and putting taxes into it makes sense.
@@MrMakabar SMRT lost two bus contracts in recent years, resulting in Bukit Batok, Yishun and Sembawang route groups going under Tower Transit.
@@andrewsitu3472 Heard from somewhere that SMRT is planning to downsize it's bus business also as it's relatively less profitable to, say, it's rail business
@@lzh4950 so WL and CCK packages won't be retained by them?
Thanks for the analysis! Cant wait for the Carl Zeiss video.
Thanks for the video, the shipping industry is very cyclic and tightly coupled to the economy as a whole. I believe a lot of people in the comments did not fully listen to your research and just lump the entire issue to "military" management seemingly ignoring all the other non-military linked CEO and like you have said, it is not that simple. From your video it is very clear that without huge capital to cushion any fall and to introduce economy of scale when there is good opportunity, it hard to survive in the shipping industry.
I agree to your conclusion that it is a good decision to pivot out of the industry completely.
Any chance to do a video on the Port Operators of Singapore?
ahh Sunday evening and John has posted. glad to have it thanks John .m
In the SAF we were train how to spend money , not train how to make money.
I had some dealings with NOL at one time in the early days as a vendor doing some IT consulting work. The senior management were a bunch of bureaucrats, having big degrees or seniority but pretty much useless in real life practice. They pretty much ran the company into the ground.
Your comments about NOL bringing in western staff are also accurate, unfortunately these western "expertise" were really rejects who probably couldn't make it in the US or elsewhere, so they got jobs in Asia instead. Together with lousy local upper management, the company was doomed. Deep down, the local Chinese Singaporeans still thought of the Brits, Americans and other westerners as superior.
Different note but in the same vein, the Singapore government setup the National Institute of Technology offering IT courses with western instructors. It was a common joke among the foreign expats working in Singapore at the time. I interviewed numerous local graduates with big degrees, all good at pushing papers, but none worth hiring. Can't blame the poor local students though, I had a chance of talking to a few of these western instructors, they were retards and rejects who brought out-of-date theories and handed out degrees not worth the paper they're written on. It was a case of some incompetent moron being laid off as a low-level analyst in the US or UK, hey how about applying for a teaching job in Singapore.
Good video, good history, good analysis and summary. Reminds me of those days, working with many nice local people.
Not sure how reliable your comment is, given that there is no degree granting institute named the "National Institute of Technology". The closest I can think of is the Nanyang Technological University (ranked 35th in the world by the Nature journal). Perhaps you are a wee bit biased (and blinded by the same). Sidenote: I'm a Singaporean but I'm an academic in an Australian G8 uni.
(Edit: I stand corrected: There IS a SINGAPORE Institute of Technology - but it appears to have been established in 2009 (early days with NOL?) and seems to be oriented towards providing continuing education to mature students (bascially students with previous polytechnic diplomas - i.e. people who pursued a trade diploma as opposed to an academic degree after high school) who did not have tertiary degrees. Not to put them down (apparently my best friend's wife received a degree from SIT - in radiotherapy) but they are hardly the cream of the crop for highly technical positions).
Sorry, I seemed to have struck a nerve. Some of the best and nicest people I worked with were in Singapore, at SIA (Singapore Airlines). Some of the most incompetent people I came across were also in Singapore, at BP and a local bank (don't remember the name).
Another company poorly managed by the umbraged ex-general.
Fantastic Leadership by Paper Army General . How Wonderful
NOL then SPH
"Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results"
Albert Einstein
Clearly you people didnt bother to watch this video or the world of business is too hard to imagine for you guys.
Thank you for the analysis. I wished local media would provide such in-depth analysis when covering said topic but it's just much easier to publish headline-worthy soundbites, gleam over the embarrassing details, and go back to reporting sex scandals than educate Singaporeans.
Maybe the girls are sexy 😏😉😂😂😂 jokes aside yep 😉👍 midiacorp could do better work then just thinking about making money out of scandal's and pretty naughty girls . But we know that big mídia corporation today only care about money and not information to give to us (the public the viewers) that's one reason people don't believe in them anymore and are more political divided as never before. They say we're neutral but we know they're not they love some party from right and left and others interest they have. Ah old midia they suck so much that they are losing some ground to alternative midia source's like this channel. I know well in my country Brazil globo tv and others are kinda the same as Singapore midia outlets.
I believe this is why a myriad of educational, reaearch-based channels exist on YT and have been heavily on board with Nebula/Curiosity stream
You can train a nobody to become a general but you cant train them to become a towkay.
Fantastic Leadership by Paper Army General
NOL then SPH
"Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results"
Albert Einstein
If ure actually bright, ull realise it has nothing to do with him being an army general. U have nothing but only Facebook sentiments to back ur copy paste statement. Not to mention, in case u haven't work a day in ur life in the corporate world, ull realise that the downfall of the company is on the various department heads along with managers, not the CEO alone. NOL, just like SPH, was alr screwed before the army general took over. If u think the leadership of one guy is soooo significant compared to actual major business factors, i question ur business acumen and logic. Not to mention, only blind sheeps downplay general's achievements by calling them paper generals when some of these generals emerge top of the US academy and serve their time in the Middle East and Somalia etc without the media disclosing their service. But what do you know since ur "facts" come from FB grp of the same woke sheeps
NOL executives were a BIG BIG joke...
Probably NOL didn’t have the vision path set in the early times. Its a shame.
However NOL ain’t the only shipping line from Singapore. PIL still running their trade lane pretty fine.
Any company high in debts n corruption surely will fall vertically
I walk-in for interview with Mr Kim,crew manager,3 time.but no vacancy.but I join the aet ship at late time.nol building .alexandra.give sweet memory as a seaman.thanks.
Strange that a CEO who sank a Singapore Gem is next made the CEO of another Singapore Gem, SPH. Does this happen elsewhere?
NOL was turned profitable in less than a year by the French company!
True to form, he again sank SPH
The one and only problem with Singapore is they always or should I say everything and every-time when they appoint the candidate to lead, that guy completely doesn’t know that particular industry at all! Worst zero commercial knowledge at all! The only criteria and credential is the candidates must have a string of PhD or the rank of Gen or must be from the inner circle. Correct me if I am wrong? Name me which SG companies are not? Absolute and total failure!
Excellent content.
NOL also create jobs for Singapore Sembawang Shipyard when they build the ships used by NOL. Singapore government not only want a shipping company that help to export Singapore goods to other countries. They also want to create jobs after Singapore independence, due to very high unemployment rate.
2015 was also the year when not only Avengers 2 arrived but the 7th chapter of Star Wars and First Order war will break out Star Wars Episode 7 - Force Awakens taking place in 34 ABY 30 years after War of Endor ended.
Good research
Parachute directors that never know their traits.
Fantastic Leadership by Paper Army General
NOL then SPH
"Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results"
Albert Einstein
GENERAL UMBRAGE
Well said
Trains, planes and automobiles...and shipping, are good ways to make a fortune: start with a billion and end with a million. Wealth destroyers for shareholders, as Buffett would say (and not take his own advice, and lose money).
Buffett loves railroads and owns BNSF.
@@MirzaAhmed89 He's under-performed recently but good point. Railroads are apparently an inflation hedge says the Oracle of Omaha.
The saying is: "it is easy to make a small fortune with shipping, you just need to start with a large one"
Railroads are generally considered monopoly businesses and are nothing like air or ship lines which are very much commodities
The greatest shipping lines are still by the Greek Aristotle Onassis, nobody can beat his management.
The ruthless Onassis treated his women the opposite of how he loved his ships. He once famously said to Jackie O, that the only place you'd find sympathy from him was in the dictionary between the words 'shit and syphilis'. But he did it his way, to his credit. As an investor however I'd avoid the shipping sector, now selling at rock bottom prices. I could be wrong though, and maybe it's worth a bet.
@@raylopez99 guess you know him personally, well i was in the Navy that's why I heard of him other than reading news about him that was all there is.... investing in shipping lines, nay i am not a businessman 🤠, a gunslinger.
Good thing about tamesek is that they know when to let go of a company.
It actually took years of negative earnings before they let go of the company. So Temasek is already forced to sell a losing business.
Do they make all their investments public? Isn’t it a hood investment strategy to invest in the same things an intelligent group invests in…
within 2 years, the new buyer turned NOL profitable. Fatty say he take umbrage if anyone dare say he useless CEO of NOL
Yeah, they are so good under then Mr Ho, that it picked up Micropolis from going to the dump, to compete with Seagate, only to relinguish it in 1.5 yrs with a staggering loss of $630mil in 1996 thereabout. That was the start of Mr Ho's stellar track record at Temasek.
@@macolet9711 Passport recognition is ALL about the "unwritten" political basis using the GDP per Capita economic data.
Fact: GDP per Capita in 2020
Taiwan, ROC= $28,323
China, PRC = $10,516
So, wait until China overtakes the GDP per Capita of Taiwan.
This is awesome!
A pragmatic approach by Temasek. Not all businesses are tenable in the long run.
Except it turned a profit for CMA within the next financial year. Nothing excuses incompetence.
Agree.
Wonder if ocean tanker or ok Lim can be taken on the future video?
In hindsight, it's very easy to make a SWOT analysis. The fact of the matter is that shipping is a capital intensive business. You may have to run for upto 2 decades without making a profit.
The pandemic and current restrained capacity has artificially raised prices. Hanjin, Hyundai, MOL, YML, the list is endless and consolidating balance sheets is the way to go.
The enterprise value of all shipping companies has gone down significantly 2008 onwards.
Can you make videos on NYK, K line and MOL, also there Joint venture ONE.
Yes, good one!
*MY UNCLE,,,CAPT. JALAL,,,,,WAS FOUNDER OF NOL (NEPTUNE ORIENT LINE)*
Well done 👍🏻
Can you look at Evergrande's bust? I think the complex geopolitical and financial relationship can be rather insightful for East Asian economies.
NOL was under temasek holding which is control by some one.so whom to blame?
Bruce LEE family..
Government will dispose business that is no longer strategic to the government long term investment…
@David Ng, You wrote "strategic to government long term investment". It takes so many words for you to say "profit" or "money".
The Company was managed by Academically Brilliant Technocrats with very strong elitist and bureaucratic dispositions. The results speak for themselves.
so is the reason why your country is so successful. lol.
@@teerificbitch all the somewhat original ideas came from foreigners
I am french and i'm so happy that we bought this company
This is what you get when you put a "paper general" in charge. The amazing advantage of being a paper general in SG is, no matter how you screw up, how big the screw up is and how many people are affected by your screw up, you will never be condemned. You just move on to another department/ministry/company and take over as the head, and likely fuck it up the same way again.
If only the Indian government knew when to let go of failed companies
The merger between COSCO and China Shipping would be a good story to tell.
Cosco buying OOCL would be another good one!
@@diegosantos9757 Yes! That would definitely be a good one and I wasn't expecting that to happen
OOCL was owned by Tung Chi Hua family wasn't it?
@@andrewsitu3472 Tung Chao right?
Poor leadership and management team, these people have no passion for the business and looking down from ivory tower only manage company by Kpi to increase their share options and built in golden parachute. Singaporeans should take umbrage on these paper tigers.
VERY GOOD !!!!!!!!
As a Singaporean i took umbrage that NOL was sold to CMA CGM for CEO incompetency
Hahahahaha
Umbrage. Word of the day back then.
The company that nobody in Singapore talks about anymore
Could you do a video no how and why Creative Technologies failed?
NOL had been badly managed for many years.
Since it birth! They are retirement resort for those x good for nothing dumb dumb.
This happened when you put a queen bee to lay eggs for an ant colony.
Good work with the video, I wish I have money to sent for you to do the Malaysian shipping company counterpart
when i see their containers i always thought it was SNOL because of the logo
It's the then CEO, a former General of Defence force, who ran the company into oblivion.
Please also do a story on the fall of ocean tankers.
Anthony Sebastian Aurole ask Karachi Port Trust and Bahraia and Latif the idiot from Punjab.Also the navy at PQA
Oo965((
OCEAN company the trade mark is propeller correct??
A video about Sinkapore Prositute House would be great too.....just sayin.
They’d do the video of sinkapore prostitute house if you provide your home address to them.... just sayin.
@@yankeechappalang2935 Lol!
@@yankeechappalang2935 is it true that Prostitution is legal profession in Singapore.
@@aadilansari5997 yes, prostitution is legal in Singapore. however, it is illegal to live off the proceed of the prostitute. ie you will be prosecuted if you are pimping.
@@yankeechappalang2935 If there is prostitution thete will be pimping.
With Covid19, SIA are facing same route of failure, selling shares and diluting investor's holdings, Temasek had to increase their investment when their share offering fail to attract investors. Long lockdown n closing of borders are making SIA into a hungry $$ burning machine (burning US$1 billion in 2020)
Good stuff and great video! I've been hearing about NOL's bad end for decades so I really appreciate this great summary.
It's not a story you would necessarily learn from the Singaporean government. 😆 Loved your unbiased take though, there has been a lot of myth and rumour surrounding NOL's sale and finally this video cleared a lot of that up for me.
UMBRAGE!
What is your take on the u-turn by the govt now to help bail out PIL?
thank you
Why are people criticising the people running it, when it’s the industry that’s broken.. They could have followed Evergreen to purchased bigger vessels, but those aren’t necessarily going to be profitable in the long run. With covid and war drills around SEA region, things are more uncertain than before. Seems like they made good judgment to exit, gaining back several billion before a being bankrupt like hanjin..
That’s the dynamics of all businesses, go in the right time, exit at the right time.
The story of NOL is far more than the fall of a shipping company. It is both a reflection of a fatal shift in strategic thinking and a strategic failure.
NOL was Singapore's truly homegrown merchant marine. A merchant marine is critical, it develops and maintain a country's shipping links with the rest of the world during hostile times. There are many Singapore-flagged vessels but nearly all of them are beholden to foreign owners of foreign countries. Countries that might turn on Singapore in hard times.
Instead of seeing the strategic value of a domestic merchant marine shipping line, the rank-and-file of Singapore's ruling elite only sees the profit motive and shareholder value. Too many believe in the propaganda of Singapore as a "globalised city" and ignore that in times of hardships, nations turn on each other, "globalised city" or not.
Who is the CEO of NOL before the Mr umbrage? Analyse further ,Check also the CEOs of the govt linked companies before it is publicly listed in SGX,and later privatised. Eg intraco etc etc .Maybe you can learn something from this,?
They also had incompetent masters navigating their vessels...go read up on the apl china blunder
Also there was a time where the crew were running a stowaway syndicate
saving for education about the benefits and limits of singapore model
I take umbrage at this video
First increase salaries for Singapore port foreign workers work more pay less 😢
Were those charters long-term? Otherwise it seems that NOL could have cut its costs more easily in the financial crisis.
Also, what are the fixed costs which were removed by consolidation?
Another great investment by Temasek. Great job by the overpaid fund managers.
SIA jewel of t crown.......meh
One thing's for sure, Uranus is slightly larger than Neptune.
Invest in the future
This sounds like a good MBA case study. Like those from Harvard Biz School!
Would to see a reports about APL and Sealand, two American carriers disappear in international shipping. Poor and corrupted management ….
APL kena makan by NOL while Sealand is now part of Maersk. Only Transamerica Leasing still survives
@@andrewsitu3472 Matson is also still around.
@@MirzaAhmed89 who are they? Haven't seen their branding around.
Awesome
Great video, but one thing though, Temasek is pronounced as Te-Ma-Sake, sake as in for someone's sake rather that Tei-ma-sek
Send a boy with no relevant experience , the result is to be expected.
Now PIL is going the same path !
PIL is not doing so good right now. I hardly see them anymore.
PIL getting bailed out by Temasek.
This is what we call Capilaism in Action.
Back in the 90s Singapore took pride of having the worlds busiest port. I use to admire Singapore when Lee Kuan Yew was still alive. Now his son is at the helm everything Singapore does is just a publicity stunt.
A stunt wouldn't have billions in gov backing would it? Singapore's gov go long term in almost everything. If all this gov does is a publicity stunt, why is the education sector, precision engineering sector, environmentalists all aligning for the future with very clear and distinct trajectories and identified goals and outcomes?
People like you open your mouth with 5mins of knowledge that you google. Read more.
Singapore is still one of the top busiest ports...
Shameful!
Sale to Cn 💯👍
Very sad
Temasek control many company, sold a loss maker to foreigners is nothing unusual, let other have a loser is never a bad idea. Cheer!😊😊
The only problem with your statement is that the loser company almost immediately turned a profit after it was sold to a foreign firm. Cheer!
@@NANICU Good for NOL , foreign firm is a right owner then. 🤗Cheer!
Poor NOL management
Temasek could pour massive funds to rescue Singapore Airline,but allowed Neptune Orient Lines to be sold off. Wondering who actually made the decisions ???