Sheng Siong Group

RHB is also banking on the work-from-home trend and general avoidance of crowded areas and gatherings during this period to support Sheng Siong's grocery retail sales.

Retail sales in Singapore saw an overall drop in 2019, but the F&B and online components of retail sales saw some growth.

SINGAPORE (Jan 2): A consortium spearheaded by Razer Fintech, the financial technology arm of gaming hardware manufacturer Razer, has submitted its application for a digital full bank licence in Singapore.

SINGAPORE (Nov 15): Sheng Siong Group announced Friday it is acquiring commercial premises at 118 Aljunied Avenue 2 for $29.5 million.

SINGAPORE (Sept 16): Supermarket chain Sheng Siong Group is the overall winner in the commerce sector for the second year running. The company’s return on equity (ROE) of 25.68% made it the leader in this category as well.  

SINGAPORE (Mar 19): Maybank Kim Eng is starting coverage on Sheng Siong Group (SSG) at “sell” with a  target price of 95 cents, which implies 19.5 times FY19F P/E – 1 S.D. below the stocks’ five-year mean.

SINGAPORE (Feb 25): Sheng Siong has reported FY18 earnings of $70.8 million, 1.4% higher compared to $69.8 million in FY17, which came on the back of a 7.4% y-o-y increase in FY18 revenue to $890.9 million.

SINGAPORE (July 30): Sheng Siong reported 2Q18 earnings increased 6.3% to $17.2 million from $16.1 million in 2Q17.

SINGAPORE (June 28): OCBC is maintaining its “buy” call on Sheng Siong Group with an unchanged fair value estimate of $1.12, highlighting it as a defensive business in times of volatility given ongoing trade tensions between US and China as well as Eu

SINGAPORE (June 22): RHB Research is remaining optimistic on the consumer sector in Singapore this year, as consumer spending is expected to rise on the back of strong economic growth and an improved job outlook.