Supermarket operator Sheng Siong Group announced that its subsidiary, Sheng Siong (China) Supermarket on Dec 8, 2022, entered into a lease agreement with Yunnan Bi Yu Real Estate for a retail space of approximately 31,162 sq ft at Bi Gui Yuan Yingxiang North City 2nd Phase, Gu Yu Yuan VI Zone, B1, Intersection of Linyu Road and Tongyuan Road, Panlong District, Kunming City, Yunnan Province, China.
The new store is expected to be operational before the end of 2Q2023.
This will bring the group’s store-count to 67 in Singapore and 5 in China.
This new store is not expected to have a significant impact on the group’s financial performance for the financial year ended Dec 31, 2022.
Shares in Sheng Siong closed at $1.62 on Jan 5.
Photo: The Edge Singapore/ Albert Chua