Sheng Siong Group, via its subsidiary Sheng Siong (China) Supermarket Co, has entered into a lease agreement with Yunnan Yingjun Commercial Operation Management Co for retail space for a store in Kunming, China.
The retail space of approximately 37,800 square feet is located at 1F Unit 101, Chun Cheng Hui Gu Phase 2 Commercial Building, Haiyuan District, Heilinpu Wuhua District Residential Office.
See also: Buy supermarkets and F&B counters like Sheng Siong and Koufu, says DBS
The new store is expected to be operational before the end of 3Q2021, bringing Sheng Siong’s store count to three in China in addition to its 63 stores in Singapore.
The new store is not expected to have a significant impact on the group’s financial performance for FY2021 ending December.
Shares in Sheng Siong closed 1 cent or 0.63% lower at $1.57 on June 8.
