SINGAPORE (Oct 27): OCBC is keeping its “buy” recommendation for Sheng Siong Group with a fair value of 95 cents as new stores continue to drive growth.

In a Tuesday report, lead analyst Jodie Foo says Sheng Siong’s 3Q15 results met its expectations, as revenue grew 7.3% to $200 million, making up 25.9% of its FY15 forecast.

Net profit also increased 18.7% to $14.5 million, constituting 26.8% of its FY15F projection.

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