Mercator Lines Singapore

[mrEngineer]

also, there is a clear succession plan in place that allows for long-term continuity and strategic planning.

Hi Karlmax, may I know how did you arrive at this conclusion?

[karlmarx]

also, there is a clear succession plan in place that allows for long-term continuity and strategic planning.

Hi Karlmax, may I know how did you arrive at this conclusion?

the mittal family controls 70% of mercator lines. shalab mittal is the ceo, and his dad is the chairman. there are no other family members holding director position. nobody is going to compete with shalab for the ceo position for a long time to come. it is easier to set out and work towards a direction without being distracted by internal rivalries. there is also little incentive for them to engage in short-term risk-taking activities; they are not pressured to prove anything to anyone (the market) by achieving superior performance (hence their preference for long-term charters). most of their wealth is tied to the company. plus, they give themselves very decent dividends that will keep them happy.

it is unlikely the mittal family will take mercator private in the next few years, since there may be the possibility that they need to tap into the capital markets. it is also unlikely mercator will be sold to a third party; a thriving family business seldom gets sold outright, unless there are internal conflicts. investors waiting to cash out can only hope that the bdi recovers within the next 1-2 years.

popular is one such other company which shares similar characteristics. 70% owned by the chou family. father (chairman) and son (ceo) team. no potential sibling rivalry. prudent management of growth. and very decent dividends. like mercator, popular as a family business is prudently managed. the plus point of popular is that you do not have to worry about cashing out, since it is not a cyclical business.

[mrEngineer]

Any forumer can share more insights about letter of demand from Cargill? My feeling is that the company is oversold with good operations but in a very bad shipping cycle. Perhaps on hindsight many people can say that the asset values of ships are too high.

[cyclone]

The Judicial Manager of Mercator Lines (Singapore) Limited (Under Judicial Management) wish to announce that the Court Order appointing Yit Chee Wah as Judicial Manager has been issued on 18 January 2016.

The Judicial Manager intends to evaluate all of the available options in order to preserve the value of the Company’s assets for the benefit of its creditors.
The Judicial Manager will provide further updates as and when appropriate. In the meantime, shareholders and creditors who have a query pertaining to the Judicial Management of the Company should contact Mr Mark Chadwick of FTI Consulting at +65 6831 7824.

Mr Harish Kumar Mittal has resigned as Chairman and Non-Executive Director of the Company with effect from 18 January 2016.

[brattzz]

sounds like game over today.... :O