Maybank Kim Eng’s Kareen Chan has initiated coverage on Sheng Siong Group with a “sell” call and $1.33, citing its “best days are over”.

From her perspective, the supermarket chain, which benefited from higher-than-normal buying last year amid the pandemic, is unlikely to see another windfall this year as more people dine out with the expected ban lift later this year along with higher vaccination rates.

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