NOL Intends to Sell Singapore Headquarters
A decision on whether to relocate the 500 people who work in the 26-story tower, or continue in the building as a tenant, will be made after a buyer is found.
Singapore-based box shipping and logistics firm Neptune Orient Lines Limited (NOL) today announced their intention to sell the company’s Alexandra Road headquarters building.
The move has been taken in order to release capital for “strategic investment”, NOL said in a press release.
NOL have made losses in their previous five quarters with Ship & Bunker reporting in May the company announced a loss of $254 million for Q1 2012.
More at Ship and Bunker
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