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04-11-2008, 06:22 PM

cheongtk

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Join Date: May 2008

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Singapore Shipping Corporation

Provider of car carriers. Singapore Shipping Corp (SSC) has a small fleet of three car carriers. All three are chartered out till Jan 09, 2010 and 2011 respectively, all with options for extension for another three years.

Could dip into the red in FY09. The group issued a profit warning last week, citing negative fair value for its short-term investment assets. This could lead to a net loss in FY09.

Initiate with Sell and target price of S$0.15.

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