Steamships Trading Company (SST)

Shares / Stock Code

SST

Stock Exchange / Sharemarket

Australian Securities Exchange

Steamships Trading Company (SST) is a leading trading company with a focus on diverse operations such as automotive distribution, hotel management, product manufacturing, property development, shipping, road transport and information technology. The Company operates in Papua New Guinea and it is dual listed on the Port Moresby Stock Exchange with ticker code (POMSOX) and on the Australian Stock Exchange (ASX) with ticker code (SST). Steamships listed on the ASX on 30th June, 1962. The Company employs in excess of 2000 staff comprising both citizens and non-citizens.

The Company's property segment includes commercial and industrial properties and 101 residential units. Its manufacturing segment offers a diverse range of products such as ice cream, cooking oils as well as a range of groceries and grooming products that are made available through Laga Industries, a premier PNG-based manufacturer. Its hotels division focuses on the development of conference and banqueting facilities. During 2009, the Company’s development projects include building of a 42 room complex next to the Ela Beach Hotel, and the construction of 35 rooms at the Gateway Hotel.

Steamships is a large scale company which through its resources, capacity and vision is capable of addressing the changing needs of an emerging country. The Company has been operating in PNG for more than 90 years and throughout its history it has continued to prove itself as able to develop and deliver appropriate supply chain services, including upgrading of asset and resources in order to meet the challenging project requirements. It also delivers a range of support services like ICT systems.

Steamships Trading Company History

The company was publicaly founded in 1924. Its roots are in 1919 when its founder Algernon Sydney Fitch, a retired sea captain bought the SS Queenscliffe to salvage a barge called Southern Cross going aground in the Bass Strait. Unfortunately the Southern Cross sank so Sydney Fitch decided to commence coastal trading operations in Papua New Guinea. After war the Company expanded to include diverse operations, such as industrial operations, tourism and farming. SST continued to expand and diversified into automotive business in 1993. It became listed on the Australian Stock Exchange in 1962. In 1993, it acquired 100% equity of New Guinea Motors Ltd from the Japanese owners.

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