“Given the overall domestic and external economic environment, OCBC Treasury Research believes the local consumer sentiment look relatively resilient when compared to the start of the year,” adds Foo.
SINGAPORE (July 14): OCBC Investment Research continues to rate Sheng Siong Group (SSG) at “buy” with an unchanged fair value estimate of $1.15, pending the supermarket chain operator’s release of its 2Q17 results in the coming weeks.
In a Friday report, lead analyst Jodie Foo says that while Singapore’s May 2017 retail sales data “depicted a generally unexciting picture”, supermarket sales were stable with a 0.8% growth y-o-y.
