Scholar-CEO who ran NOL into the ground likely to do the same to SPH, no one complaining

I refer to “Ng Yat Chung to replace Alan Chan as SPH CEO from Sep 1”. CNA

Many Singaporeans are screaming with joy after learning that a former paper general has been appointed to head SPH because he is likely to take SPH down the same NOL path. 🙂

Besides stating Ng “was previously CEO of shipping firm Neptune Orient Lines”, nothing else was mentioned about Ng’s achievements in the CNA article. Hmm .. which company hires a CEO with no past achievements?

SPH shareholders should get to know the appointed CEO better and find out if former paper-general Ng is bringing anything at all to the table.

Ng created history when he sold NOL – after years of losses – to a French company last year. Despite this, Ng was praised by SPH chairman Lee Boon Yang, a former cabinet minister who had studied in Australia to be a vet.

Lee Boon Yang: “..will complement our diverse strengths and expertise. He will help us to steer SPH to greater heights of organisational and business excellence.” The Independent

Lee was obviously talking cock and there is ample proof of this.

Since Ng became CEO, NOL had lost money every quarter.


Shouldn’t SPH shareholders be really worried?

Before Ng was parachuted into Temasek Holdings, his only experience was 28 years in the military. He subsequently became CEO of NOL, a Temasek-linked company. Ng does not have any relevant experience to run SPH.

SPH is a media dinosaur as is evident from the destruction of shareholder value by scholar-CEO Alan Chan.
Point to note is SPH has no competitors and its main publication some refer to as ‘Shitty Times’ is supported by every government agency, schools and businesses. Since Alan Chan became CEO in 2003, the population has also increased by 1.6 million.

Logically, SPH share price should increase over time but today, it is lower than 14 years ago.

Chan himself was also parachuted into SPH after retiring from the civil service.   Can any civil servant who has been earning tax dollars all his life become a CEO overnight?

Chan was not running a media organisation but helping his political masters disseminate propaganda. That investors have started dumping SPH shares and will continue to do so should not surprise anyone.

CEO-designate Ng will bring nothing to SPH’s table and very likely to run SPH into the ground, just like he did NOL. But no one will be complaining. 🙂

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8 Responses to Scholar-CEO who ran NOL into the ground likely to do the same to SPH, no one complaining

  1. Confused says:

    So long live cronyism, Singapore! !!?

  2. Sinkie says:

    Huat Ahhhhrrr!!!! SPH will be at the top of my “to short” list during the next local stock market slump.

  3. Paul Cheng says:

    If,when SPH fail,collapse it is harder to find suitable buyers for obvious reasons? Unlike NOL…??Btw is nursing home supposed to be a profitable business?? Just wondering..like Chinese saying goes no eyes to see…

    • Phillip Ang says:

      The scholar-CEO knows nothing about organic growth. SPH is venturing into many unfamiliar businesses which it’s hoping could be profitable.

  4. Concerned and worried says:

    SPH should return all the investors’ money and take it private immediately rather than a new ceo who gave no track record to run a media company.

    • Phillip Ang says:

      But a lot of people think it’s good to give Ng Yat Chung a second shot at corporate leadership. 🙂

      • Excited says:

        On what grounds do they think that way? Just by the fact that everyone should be given a second chance? Not everything in life can always have a second chance especially for positions like this. But its good, he can increase investors confidence…..to short this stock 👍🏻

      • Phillip Ang says:

        🙂

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