Since the Singapore government raised the DORSCON level to Orange in early February this year, panic buying spread across the nation and supermarket shelves were emptied faster than it could be replenished.

On the back of the increased demand of essential groceries during the Covid-19 period, supermarket operator Sheng Siong saw a 150.7% surge in 2Q20 earnings to $46.1 million, from $28.4 million in 2Q19.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook