Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sheng-siong-group-ltd" target="_blank" data-smartkarma-citation="entities:6824:1" rel="noopener">Sheng Siong (SSG SP)</a> surpassed expectations in Q3 2025, delivering revenue/profit growth of 14%/12% YoY, with FY25e store expansions totaling 11 stores, bringing the total to 86 in Singapore. </li>
<li>The company is now pursuing a strategy of mall openings in tandem with its already successful HDB strategy, resulting in a higher growth rate than previously expected. </li>
<li>Despite the more rapidly expanding footprint in Singapore, we believe the company is now fairly valued at 24.4x FY25PE with risks from the Johor Bahru-Singapore RTS and the associated SEZ. </li>
</ul>



Sheng Siong (SSG SP) surpassed expectations in Q3 2025, delivering revenue/profit growth of 14%/12% YoY, with FY25e store expansions totaling 11 stores, bringing the total to 86 in Singapore. 
The company is now pursuing a strategy of mall openings in tandem with its already successful HDB strategy, resulting in a higher growth rate than previously expected. 
Despite the more rapidly expanding footprint in Singapore, we believe the company is now fairly valued at 24.4x FY25PE with risks from the Johor Bahru-Singapore RTS and the associated SEZ. 


Sheng Siong (SSG SP): Surpassing Expectations Handsomely, But Fairly Valued. Money Off The Table?

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>Citi downgrades OCBC to 'neutral' despite positive 2QFY2026 outlook.</li><li>Broker's Digest: Aztech, Raffles, YZJ, HPH, iFAST, SGX, Singtel.</li><li>DBS maintains Singtel's target price at $5.46 amid Optus stake sale discussions.</li></ul>

Citi downgrades OCBC to 'neutral' despite positive 2QFY2026 outlook.Broker's Digest: Aztech, Raffles, YZJ, HPH, iFAST, SGX, Singtel.DBS maintains Singtel's target price at $5.46 amid Optus stake sale discussions.

Singapore Market Roundup (31-Jul-2026): Citi downgrades OCBC to 'neutral' despite positive

<ul><li>JP Morgan remains 'underweight' on Seatrium despite improved profit forecasts.</li><li>UOBKH's Cheong downgrades Aztech to 'hold' due to weaker second half outlook.</li><li>Analysts stay positive on CSE Global after recent site visit.</li></ul>

JP Morgan remains 'underweight' on Seatrium despite improved profit forecasts.UOBKH's Cheong downgrades Aztech to 'hold' due to weaker second half outlook.Analysts stay positive on CSE Global after recent site visit.

Singapore Market Roundup (29-Jul-2026): JP Morgan stays 'underweight' on Seatrium amid profit

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>NextDC in Australia has increased its senior debt facilities to $1.6 billion for AI data center growth.</li><li>Weave is marketing Singapore shophouse suites for $73 million, reflecting a trend in capital recycling.</li><li>Mitsubishi Estate plans to invest $9 billion in data centers and real estate across the Asia-Pacific region.</li></ul>

NextDC in Australia has increased its senior debt facilities to $1.6 billion for AI data center growth.Weave is marketing Singapore shophouse suites for $73 million, reflecting a trend in capital recycling.Mitsubishi Estate plans to invest $9 billion in data centers and real estate across the Asia-Pacific region.

Asia Real Estate Tracker (15-Jul-2026): Australia's NextDC Raises Senior Debt to $1.6B for AI Center

<ul><li>KGI's Chong initiates coverage of China Sunsine with 'outperform' rating, $1.145 target.</li><li>DBS keeps 'buy' on DFI Retail after its acquisition of HK ad platform.</li><li>OCBC's Lim keeps Parkway Life REIT at 'add' after nursing home sale.</li></ul>

KGI's Chong initiates coverage of China Sunsine with 'outperform' rating, $1.145 target.DBS keeps 'buy' on DFI Retail after its acquisition of HK ad platform.OCBC's Lim keeps Parkway Life REIT at 'add' after nursing home sale.

Singapore Market Roundup (06-Jul-2026): KGI's Chong rates China Sunsine 'outperform' with $1.145

Singapore

Sheng Siong Group Ltd. operates a chain of supermarket retail stores, offering a wide assortment of live, fresh, and chilled produce, pantry staples, packaged foods, and household merchandise. The company also engages in general trading, wholesale import and export, and operates an online grocery platform. Sheng Siong was founded in 1985 and is headquartered in Singapore.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sheng Siong (SSG SP)