NOL sells HQ, snaps losing streak

Singapore: Neptune Orient Lines has sold its headquarters to Fragrance Regal for S$380m. The NOL Building at 456 Alexandra Road is one of the Lion Republic’s best known shipping buildings. “The divestment will enable NOL to release capital for strategic investment,” NOL said in a statement. NOL also announced yesterday that it had ended six straight quarters of losses with net profits of US$50m in its third quarter ended September 21.  [26/10/12]

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