Sheng Siong opened four new stores in Q1

It has even more potential to open stores as 10 supermarket sites are available this year, an analyst said.

Sheng Siong opened four new outlets in the first quarter, and two more are set to begin operating this quarter, RHB Research reported.

RHB analyst Juliana Cai noted that there are 10 more supermarket sites available for tender from now till the end of the year. "As such, we believe it has strong potential to open even more stores and deliver even better results over the next three quarters," she added.

With that, Cai thinks Sheng Siong is a clear beneficiary of the recovering consumer sentiment in Singapore. "In addition, with the expansion of its Tampines outlet and renovation of the Loyang outlet in 2017, we believe Sheng Siong may continue to be strong this year," she said.

Singapore Business Review also previously reported that Sheng Siong would expand its warehouse by 20%, instead of 10%. "Sheng Siong is also making efforts to increase the level of automation in the new extension," Cai added. "We note that it aims to complete the extension before the Lunar New Year sale in FY2019, which would allow it to handle more bulk amounts."

The additional capacity would also enable the group to handle a higher store count, do more direct-sourcing, and get more suppliers’ rebates as a result, the analyst said.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia