Singapore Shipping Corp (SSC) announced their 2nd quarter and half yearly results this evening. You can take a look at the results here. Current Price: SG$0.30 Number of outstanding shares: 436 mil Dividend per share: SG$0.01 ( US$3.11 mil @ 1.41 exchange rate)

Cash Flow

SSC owns 5 main ships, with 3 delivered in the past year. They also own an agency logistics business which generate good cash flow based on their asset value. For more on the nature of the business, please refer to my past write up which I append below. Revenue overall grew 52% year on year and net profit grew 136% year on year. This is hardly surprising if you add 3 ships to a business with 2 ships and an agency logistics business. The question is whether my previous estimation of the profits and cash flow is accurate......