Singapore Shipping Corp

[r0n]

In general, fundamentals precede market interests. If the Management raises the dividend to 2.0 SG cents per share once all the vessels are delivered, I won't be surprised to see this Company trading at > 30 cents. Naturally, will they do it remains the million dollar question haha.

Based on the previous year's result, a EPS of 2.0 US cent per share is possible before considering Capricornus Leader and Centaurus Leader. We probably need to wait until 3Q results to know their contribution to the results. Probably we have to wait until FY2016 to get DPS > 2.0 SG cent when the newbuild's contribution is taken in for the full year. Once the DPS goes up, the share price will naturally follow.