From a small provision shop at Ang Mo Kio where the Lims started this business, Sheng Siong has since expanded into 64 outlets across the country covering a total floor area of 575,150 sf. More than three decades on, the company is still operating the original outlet.
Sheng Siong Group, a regular big winner at every year’s Billion Dollar Club, features prominently again. Within the food & beverages; food and drug retailing sector, the supermarket chain has been named overall sector winner and is top in returns to shareholder and weighted return on equity.
Wilmar International’s win as the company with the best growth in profit after tax helped prevent a clean sweep by Sheng Siong within this industry sector. Sheng Siong was founded by the Lim brothers Hock Eng, Hock Chee and Hock Leng back in 1985. They were pig farmers before they ventured into the retailing. Right from the start, the company’s strategy was clear: its focus is to offer mass market and economical products at outlets within the heartland housing estates. In contrast, other branded supermarket chains or upmarket grocers focused on prime locations such as the malls within the city centre, or the big heartland malls, where rental can be as high as prime Orchard Road shopping belt levels.
