Jumbo opens fifth bak kut teh outlet and expands Riverside seafood outlet

SINGAPORE (Oct 4): Jumbo has opened its fifth Ng Ah Sio Bak Kut Teh outlet at Resorts World Sentosa and expanded its Jumbo Seafood Riverside outlet by 150 seats.

The fifth Ng Ah Sio Bak Kut Teh outlet is 1,600 sf, and includes self-ordering and payment kiosks, and a tray return system to boost efficiency and cut down waiting time. These features were set up to help save costs and potentially cut manpower needs by 30%, according to the company.

Jumbo ‘in’, Sheng Siong ‘out’ for Maybank KE

SINGAPORE (Sept 28): Maybank Kim Eng is upgrading Jumbo to a “buy” with a higher target price of 78 cents, while downgrading Sheng Siong to “hold” with a target price of $1.13.

In a report on Tuesday, analyst Gregory Yap cites Jumbo’s franchising as a positive factor while Sheng Siong’s catalysts are fading with the delay with its maiden China store and closure of the Verge outlet.

Yap cites Jumbo as a “stock to own” as the year enters the seasonal 4Q peak. Catalysts such as franchising business development efforts should kick in by 1Q2017.

STI closes 0.4% higher at 2,860.23

SINGAPORE (Sept 27): Singapore stocks ended Tuesday higher, thanks largely to a pickup across markets which appeared to welcome the apparent debate victory of Hillary Clinton over rival Donald Trump.

As at 5.04pm, the benchmark Straits Times Index closed 10.29 points or 0.36% higher at 2,860.23.

In the broader market, 1.39 million shares valued at $853 million changes hands. Gainers outnumbered losers 213 to 156.

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