Sheng Siong Group (SSG)

Shrinking shopping carts keep Sheng Siong at 'sell' for Maybank
SINGAPORE (Apr 16): Maybank Kim Eng continues to rate Sheng Siong “sell” with an unchanged target price of 95 cents. Singapore’s retail sales in Feb saw a 10.0% drop y-o-y, while the supermarket & hypermarket sub-index was dropped 13.3%. After adjusting for Chinese New Year effects, it is the first time the sub-index saw a y-o-y contraction and the second time since 2016 it had ...
3 stocks to shop as local consumer sentiment remains benign: RHB
SINGAPORE (Apr 5): RHB Research is maintaining its sector “overweight” on consumer stocks although it cautions of benign consumer sentiment for 2019, with Singaporeans expected to spend more prudently amid an uncertain macroeconomic outlook. In the research house’s view, consumer confidence peaked early last year due to improved wealth effect and strong GDP growth towards end-2017; it ...
Sheng Siong kept at 'sell' as competitor ignites potential price war
SINGAPORE (Mar 28): Maybank Kim Eng Research its “sell” call on supermarket chain Sheng Siong Group (SSG) with an unchanged target price of 95 cents, after NTUC FairPrice said last week it would hold the prices of 100 housebrand products for 15 months up to end-June next year. Around half of these 100 products already had their prices slashed before the announcement. “Given market ...
Sheng Siong kept at 'buy' for defensive stance in supermarket space
SINGAPORE (Feb 27): Sheng Siong is a “buy” for most research houses. Sheng Siong on Monday announced that its FY18 earnings increased by 1.4% y-o-y to $70.8 million, on the back of a 7.4% increase in FY18 revenue to $890.0 million For 4Q18, earnings increased by 4.2% to $27.5 million, while revenue saw a 10.7% increase to $221.8 million, due largely to contributions from new ...
3 top consumer picks revealed as RHB expects sector to outperform ST Index in 2019
SINGAPORE (Jan 4): RHB Research is maintaining its “overweight” rating on the Singapore consumer sector, against the backdrop of a global economic slowdown and uncertainty arising from trade tension between the US and China. “We believe the consumer sector will outperform the [Straits Times Index], given its more defensive nature,” says analyst Juliana Cai in a Friday ...
Analysts remain positive on Sheng Siong despite drop in 3Q earnings
SINGAPORE (Nov 1): Sheng Siong recently announced that its 3Q18 earnings have dropped by 9.4% to $17.8 million, compared to $19.7 million in 3Q17. This was mainly due to the absence of $2.2 million worth of tax refund a year ago. Excluding this, the group’s net profit would have increased by 1.5% in 3Q18. Revenue during the quarter came in at $227.9 million, 8.9% higher than $210.9 ...
Sheng Siong posts 9.4% fall in 3Q earnings to $17.8 mil
SINGAPORE (Oct 30): Sheng Siong Group reported a 9.4% drop in earnings to $17.8 million for the 3Q18 ended September, from $19.7 million a year ago. This was mainly due to the absence of a tax refund amounting to $2.2 million a year ago. Excluding this, Sheng Siong’s net profit would have increased by 1.5% in 3Q18. 3Q18 revenue rose 8.0% to $227.9 million, from $210.9 million a year ago, ...
Innovation is key to staying relevant in brick & mortar, says CGS-CIMB
SINGAPORE (Oct 23): CGS-CIMB Research is maintaining “overweight” on the consumer staples sector after a recent visit to Habitat, honestbee’s tech-enabled grocery and dining destination in Pasir Panjang. In a Tuesday report, analyst Cezzane See describes the online-to-offline (O2O) retail experience as “akin to shopping at an upmarket grocery store” – and says the move by honestbee ...
Supermarket, e-commerce plays draw investor interest: CGS-CIMB
SINGAPORE (Sept 14): CGS-CIMB Research is keeping its “overweight” rating on the consumer sector, amid optimism that a better-than-expected GDP growth rate in 2018 could spur retail consumption. The brokerage hosted a Consumer Day on Sept 11, and says investors were largely positive on domestic supermarket plays and also expressed interest in learning about the key value propositions of ...
Sheng Siong likely to see stellar FY19F as growth momentum continues: DBS
SINGAPORE (July 31): DBS Group Research is maintaining its “buy” call on Sheng Siong Group (SSG) with a higher target price of $1.26, implying 25 times FY19F earnings. The valuation is pegged at +1 standard deviation (SD) point of SSG’s historical mean valuation since listing, and below regional peers’ average of 26 times earnings. See: Sheng Siong posts 6.3% rise in 2Q earnings to ...