---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000933529.md"
description: "Iggy’s Journal: Sheng Siong Is Down About 10%. The Dividend Is 2.6% and the Warehouse Costs S$520MMon 12 Oct 2026 | AfternoonThe NumbersSheng Siong’s profit rose 11.9%, but its operating cash flow fell to S$54.8 million. The company attributes the decline to bonuses and earlier vendor payments.The shares are about 10% below their S$3.20 price on 2 October. The trailing dividend yield is 2.62%, which is 58 basis points under my 3.2% Forensic Floor and 208 basis points under my 4.7% hurdle. The new warehouse costs S$520 million.My Personal TakeA single cash flow figure cannot show whether earlier vendor payments are a one-off timing difference or a new payment schedule. Whether payables rebuild is the open question, and only later periods can answer it. Until then I read the 11.9% profit growth and the S$54.8 million of operating cash flow side by side and treat neither as the whole picture. In the episode I go through how I test the current dividend against that cash flow, and why the S$520 million warehouse makes future increases harder to judge.$Sheng Siong(OV8.SG) 📺 Free YouTube: https://youtu.be/7X8Qg2cBg_M⭐ Members Edition YouTube: https://youtu.be/_AaJh4ujUTo📩 Substack: https://investingiguana.com/p/sheng-siong-is-down-about-10-in-underNot financial advice. Iggy’s Forensic Compliance Standards apply."
datetime: "2026-10-12T07:46:05.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000933529.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000933529.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000933529.md)
author: "[TheInvestingIguana](https://longbridge.com/en/profiles/22116548.md)"
generator: "portal-rs"
---

# Iggy’s Journal: Sheng Siong Is Down About 10%. The…


### Related Stocks

- [OV8.SG](https://longbridge.com/en/quote/OV8.SG.md)

## Comments (4)

- **Fattycat · 2026-10-12T09:04:51.000Z · 👍 1**: I referring to the condense FS. Check page 7 in the cash flow statement published by Sheng Siong. Trade and other payables show an outflow of $68.7 million. No further details provided in notes to account. Too bad they lump trade and non-trade items together.😪
  - **TheInvestingIguana** (2026-10-12T15:27:55.000Z): Ah, I see what you mean. You’re right that the condensed cash flow statement shows a S$68.7 million outflow under “trade and other payables,” but it doesn’t break that combined line down further. With
- **Fattycat · 2026-10-12T08:56:59.000Z · 👍 1**: Sheng Siong down 2% after Maybank downgrades and trims target price
- **imJanice · 2026-10-12T08:11:39.000Z · 👍 1**: the payables question can be narrowed before later periods arrive, days payable read against stable inventory days separates a timing shift from a change in terms.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**