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Sheng Siong prefers prudence but may pounce on the right property: OCBC

PC Lee
PC Lee8/1/2017 01:38 PM GMT+08  • 2 min read
Sheng Siong prefers prudence but may pounce on the right property: OCBC
SINGAPORE (Aug 1): Sheng Siong is opting to stay prudent and maintain a healthy balance sheet but OCBC Investment Research does not rule out the possibility of the group purchasing stores in ideal locations.
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SINGAPORE (Aug 1): Sheng Siong is opting to stay prudent and maintain a healthy balance sheet but OCBC Investment Research does not rule out the possibility of the group purchasing stores in ideal locations.

“All considered, we raise our cost of equity to 6.4%, which brings our fair value down to $1.04 from $1.15 previously with “buy” rating unchanged,” says analyst Jodie Foo in a Monday report.

Sheng Siong’s 2Q17 results came in within expectations as revenue grew 6.8% y-o-y to $201.5 million and PATMI was up 6.3% to $16.1 million. 1H17 revenue of $418.6 million and PATMI of $33.3 million formed 51%-52% of full year estimates.

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