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NOL Apologizes For Share Suspension, Price Drop

Neptune Orient Lines Ltd (NOL), the world's sixth largest container shipping group, apologized to shareholders in a Singapore newspaper advertisement on Thursday for its recent one-day share suspension and price drop. "It is regrettable if the suspension has caused you concern and inconvenience," Flemming Jacobs, NOL Group president and CEO, said in a Business Times announcement. The Singapore Exchange suspended NOL shares last Friday after Jacobs said in an interview carried in local newspapers that the Singapore-based company's reults would be lower this year. "The expectations now are for much lower results than what we saw last year," he was quoted as saying.