SINGAPORE (Mar 20): Malaysia’s two week lockdown led to panic-buying at grocery retail stores in Singapore amid worries of food shortage. 

This could have been positive news for investors of Sheng Siong Group, although the counter’s share price has sunk some 17% over the past three months in tandem with the ongoing market sell-down. 

RHB Group Research, for one, views this as a short-term boost for the group in terms of sales. Yet, the brokerage is not discounting the challenges that lie in front of the group, especially as countries continue to close their borders and impose travel restrictions in an attempt to contain the Covid-19 outbreak. 

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