Singapore-based global carrier Neptune Orient Lines Limited (NOL) says there is yet no decision made to enter into any agreement to sell the company, as it responds to media reports about the rumored sale.
In a brief emailed announcement dated July 19, NOL said the company has noted “recent media reports regarding a potential sale of the Company.”
It added: “The Company is focused on returning its core liner business to sustainable growth and profitability. It has invested in 32 new and modern ships, continued to streamline its costs and, after the sale of APL Logistics, has a much stronger balance sheet. The Company has a duty to consider its options to maximize shareholder value as part of its conduct of normal business.
“The Company has not made any decision with respect to, and has not entered into any agreement for, a potential sale of the Company and there is no assurance that any agreement for the sale of the Company will be entered into.”
The company also advised its shareholders and investors “to exercise caution when dealing in their shares and other securities. The Company will release a further announcement if and when there are any material developments.”
The statement comes after media reports that Temasek Holdings, which owns nearly 67% of NOL, had put the loss-making shipping company up for sale.
Photo: Garitzko
