"With the government now expecting inflation in 2026F to exceed its earlier 1-2% forecast, we believe consumers will increasingly gravitate to value-for-money options, benefitting Sheng Siong Group," state analysts Meghana Kande and Lim Siew Khee in their April 7 note.
Citing the expected boost from government measures to help citizens deal with higher cost of living, CGS International has raised its target price for Sheng Siong Group from $2.97 to $3.40.
On April 7, the government announced that $500 in CDC vouchers per household originally planned for Jan 2027 will now be given out in June instead, along with other support measures worth some $1 billion.
