NTUC FairPrice

Lian Beng’s controlling Ong family raises stake, order book now $1.4 bil

(Aug 12): The Ong family, the controlling shareholder of construction and property company Lian Beng Group, has recently bought the company’s shares from the market. On Aug 2, the family bought 440,000 shares at 50 cents each, following the purchase of 299,500 shares on Aug 1 at the same price.

The purchases were made via a vehicle held by the family called Ong Sek Chong & Sons. With these purchases, the direct stake held via this entity has increased from 18.61% to 18.7%, or 93,463,000 shares. 

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Lian Beng's order book boosted to $1.5 bil after bagging $235 mil contract

SINGAPORE (July 8): Homegrown construction and property group Lian Beng kicked FY2020 off on a strong note, after securing a contract worth $234.7 million for the construction of a fresh food distribution centre for NTUC Fairprice. 

Located at Sunview Road, part of the Boon Lay Planning Area, the development is designed by Surbana Jurong and spans 301,000 sf.

The contract was secured via tender through its 60%-owned subsidiary, United Tec Construction, and is slated to start in August 2019 and is expected to be completed by July 2021.

Can new CEO save Dairy Farm from cold storage in Southeast Asia?

SINGAPORE (Mar 27): Dairy Farm International is turning to its new CEO Ian McLeod to save the day.

With more than 30 years of experience in the retail sector under his belt, McLeod is best known for breathing life back into Australia’s ailing supermarket giant Coles.

Last year, DFI saw its full-year earnings tumble 14% to US$404 million ($529 million) on the back of weakness across the group’s supermarket and hypermarket businesses in Southeast Asia.

SingPost Centre poised to thrive with location advantage & tech perks: Maybank

SINGAPORE (Oct 11): Maybank Kim Eng is maintaining its “hold” call on Singapore Post (SingPost) with an unchanged price target of $1.22, pending clearer direction from the strategic review of the group’s business strategy.

This follows the launch of the new SingPost Centre mall, which doubles the group’s gross retail floor space to 269,000 sf and net lettable area (NLA) to 178,000 sf.

SingPost to invest $16 mil in island-wide Smart Post Office network

SINGAPORE (Oct 9): Singapore Post has launched its first smart post office at the new SingPost Centre mall.

Dubbed the General Post Office (GPO), the 5,328 sf space in the SingPost Centre at Paya Lebar is currently the largest in the country and is the first in a series of smart post offices that the group hopes to launch across the island.

The GPO, along with the systems powering the future island-wide Smart Post Office network, is estimated to cost as much as $16 million.

Why Singaporeans are more likely to ‘shop local’ in a cosmopolitan retail environment

Image from Pixabay

SINGAPORE (April 11): More Singaporeans are preferring to “shop local” as they tend to feel more valued by home-grown brands as compared to their international counterparts, according to recent data from International Customer Loyalty Programmes Limited or ICLP.

32% of the 750 consumers surveyed by the Hong Kong-based loyalty marketing agency say they expect local brands to show appreciation for their regular patronage, with a close 35% expecting the same of international brands.

FairPrice Shop's threat to Sheng Siong 'little' and 'unclear'

SINGAPORE (July 5): Maybank is keeping its “buy ” call for Sheng Siong Group, with a target price of $1.12 while Daiwa is sticking with its “outperform” rating with a target price of 97 cents.

This comes as NTUC FairPrice recently launched its FairPrice Shop, a mini-market style shop mostly filled with low-priced house brand products. Currently, NTUC has two such shops at Eunos and Circuit Road, converted from older supermarkets, with plans for four more by end-2016.

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