Singapore Shipping Corp - RHB Invest 2015-12-02: Call Of Conviction
SINGAPORE SHIPPING CORP LTD S19.SI Singapore Shipping Corp (SSCL SP) - Call Of Conviction
- SSC is the only listed pure play PCTC company in the world that offers both safety and growth.
- It is a conviction BUY with a DCF-derived SGD0.67 TP (116% upside), implying 13.5x FY16F P/E.
- Operating in a highly oligopolistic sector, it has carved a profitable niche.
- It secures decades-long profit visibility through long term charters to blue chip clients and enjoys quality growth through its fleet expansion plans.
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