Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 15 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. 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 Analyst

Sheng Siong (SSG SP) - Great Execution So Far, Maintaining >20% ROCE

Sheng Siong (SSG SP) FY23: Resilient Earnings Despite Margin Pressure, FY24 Flattish

Sheng Siong (SSG SP): Another Resilient Quarter, Cash Pile Growth Continues

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>Q1 FY24 revenues/profits were up 5.5%/9.3% YoY as inflationary pressure in Singapore force consumers to adopt cost-cutting measures like eating at home and shopping in supermarkets with value for money.</li>
<li>Cash continued to pile on the balance sheet with &gt;350 mn SGD ( now almost 15% of market capitalization). Capital allocation (besides a 70% pay out ratio) is key now. </li>
<li>Trading at 16.5x PE with ROEs consistently over 25% and a dividend yield of 4.3%, this is one of the rare quality companies in Singapore worth exploring </li>
</ul>


Q1 FY24 revenues/profits were up 5.5%/9.3% YoY as inflationary pressure in Singapore force consumers to adopt cost-cutting measures like eating at home and shopping in supermarkets with value for money.
Cash continued to pile on the balance sheet with &gt;350 mn SGD ( now almost 15% of market capitalization). Capital allocation (besides a 70% pay out ratio) is key now. 
Trading at 16.5x PE with ROEs consistently over 25% and a dividend yield of 4.3%, this is one of the rare quality companies in Singapore worth exploring 


Sheng Siong Group (SSG SP) Q1 2024: Making a Strong Case for Growth This Year