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I think this analysis is overly pessimistic, given that SS recognizes that growth will primarily come from new store openings and, more importantly, the growing delta infections globally will still prevent countries from freely travel for some time to come. Do also note the second last paragraph for the caveat...
Citing " best days over" , Maybank Kim Eng calls " sell" on Sheng Siong
Maybank Kim Eng&rsquo s Kareen Chan has initiated coverage on Sheng Siong Group with a &ldquo sell&rdquo call and $1.33, citing its &ldquo best days are over&rdquo .
From her perspective, the supermarket chain, which benefited from higher-than-normal buying last year amid the pandemic, is unlikely to see another windfall this year as more people dine out with the expected ban lift later this year along with higher vaccination rates.
When the pandemic started early last year, Sheng Siong shares dropped from $1.30 to as low as $1.08 but when scenes of anxious buyers thronging supermarkets started showing, the stock shot up to as high as $1.83 last August. It closed on July 30 at $1.57.
Citing estimates by research firm Euromonitor, Chan notes that supermarket sales will drop by a CAGR of 5% between 2020 and 2023.
&ldquo We believe Sheng Siong, being the second largest supermarket operator in Singapore, is vulnerable to such industry headwinds,&rdquo writes Chan in her July 31 note.
On July 29, Sheng Siong reported earnings of $65.9 million in 1HFY21 ended June, down 11.9% y-o-y.
&ldquo Also, near-term catalysts are limited as new store opening visibility is low,&rdquo states
Chan, who expects the company&rsquo s FY22 earnings per share to drop 7% y-o-y.
Her $1.33 target price is pegged to 19.5 times FY22 earnings forecast.
According to Chan, higher-than-expected new store openings and/or slower tapering of demand could pose upside risk to her target price.
For investors looking for &ldquo reopening plays&rdquo , her recommendations are Thai Beverage and ComfortDelGro.
No logic to give up 3 cents dividend til 17th Aug. Cfm can buy if drop to 1.33.
Citing " best days over" , Maybank Kim Eng calls " sell" on Sheng Siong
Maybank Kim Eng' s Kareen Chan has initiated coverage on Sheng Siong Group with a " sell" call and $1.33, citing its " best days are over" .From her perspective, the supermarket chain, which benefited from higher-than-normal buying last year amid the pandemic, is unlikely to see another windfall this year as more people dine out with the expected ban lift later this year along with higher vaccination rates.
When the pandemic started early last year, Sheng Siong shares dropped from $1.30 to as low as $1.08 but when scenes of anxious buyers thronging supermarkets started showing, the stock shot up to as high as $1.83 last August. It closed on July 30 at $1.57.
Citing estimates by research firm Euromonitor, Chan notes that supermarket sales will drop by a CAGR of 5% between 2020 and 2023.
" We believe Sheng Siong, being the second largest supermarket operator in Singapore, is vulnerable to such industry headwinds," writes Chan in her July 31 note.
On July 29, Sheng Siong reported earnings of $65.9 million in 1HFY21 ended June, down 11.9% y-o-y.
" Also, near-term catalysts are limited as new store opening visibility is low," states Chan, who expects the company' s FY22 earnings per share to drop 7% y-o-y.
Her $1.33 target price is pegged to 19.5 times FY22 earnings forecast.
According to Chan, higher-than-expected new store openings and/or slower tapering of demand could pose upside risk to her target price.
For investors looking for " reopening plays" , her recommendations are Thai Beverage and ComfortDelGro.
Sheng Siong to buy New World Centre strata unit from TA Corp for S$17.25 million
Mainboard-listed supermarket operator Sheng Siong Group is buying a strata-titled shop unit at New World Centre for a below-market value of S$17.25 million, it said on Friday.Sheng Siong already leases the 1,790 square metre (19,270 square foot) basement property from seller Sino Holdings (S' pore), a wholly-owned unit of builder TA Corp.
The tenancy agreement will end upon the completion of the transaction for the property, which has 72 years left on its 99-year leasehold tenure.
As such, Sheng Siong' s board said the planned purchase - which is expected to be completed in three months, unless otherwise agreed - is in the group' s best interests.
It added that the deal for 1, Jalan Berseh, #B1-02 to #B1-22 is not expected to have any significant impact on Sheng Siong' s financial performance for the financial year.
The news came a day after Sheng Siong said that it is looking for new retail space in Singapore, while reporting earnings of S$65.9 million for the six months to June 30.
Separately, TA Corp disclosed in a bourse filing that it will make a net loss of S$2.94 million on the sale, based on a book value of S$19.82 million.
If the sale had gone through on Jan 1, 2020, TA Corp' s pro forma loss per share would have widened from 10.8 Singapore cents to 11.3 cents, it noted.
If the sale had been done on Dec 31, 2020, pro forma net tangible assets would have shrunk from 18.6 cents a share to 18.0 cents a share.
But, laying out reasons for the deal, the board said the transaction was in TA Corp' s interests as it will allow the group to improve liquidity and optimise asset utilisation.
TA Corp plans to use the expected net proceeds of S$16.88 million to settle outstanding amounts under a credit facility secured by the property, and for general working capital.
TA Corp last closed at S$0.071, before the transaction was announced, while Sheng Siong added S$0.01, or 0.64 per cent, to S$1.57 on Friday.
Wah... SS giving out Dividend on 08/17, $0.031. That' s nice! 
Sheng Siong H1 profit down 11.9% from year-ago high base as grocery frenzy eases
MAINBOARD-LISTED supermarket operator Sheng Siong Group saw a more subdued first half, after the year-ago high base from a buying frenzy when the pandemic first hit.
Net profit was down by 11.9 per cent to S$65.9 million, as revenue slipped 8.8 per cent to S$681.7 million, according to unaudited financial results released on Thursday for the six months to June 30.
Sheng Siong noted in its outlook statement that third-quarter demand may be higher year on year, given the recent tightening of Covid-19 measures from July 22 to Aug 18.
But " the demand is likely to taper in the second half of 2021" , even as government support could ease on the back of an improving Covid-19 situation in Singapore.
Otherwise, Sheng Siong chief executive Lim Hock Chee said in a statement that " our expansion plan in China is also moving forward" , with lease agreements inked for two more stores that are slated to open in Kunming in the second half of the year.
Mr Lim added that the group is still looking for new retail space in Singapore " particularly in areas where we have yet to build a presence" , despite tighter supply amid the pandemic that affected expansion plans.
For the six months, earnings per share fell to 4.39 Singapore cents, from 4.98 cents previously, while net asset value was S$0.26 a share, against S$0.25 as at end-2020.
The board declared an interim dividend of 3.1 cents a share, compared with 3.5 cents the year before. Books close on Aug 18 and payment will be on Aug 30.
Separately, Sheng Siong has named Patrick Chee to its board as an independent director. Mr Chee, 66, is senior legal consultant at Withers KhattarWong and also sits on the boards of China International Holdings, OneApex, MeGroup and QAF.
Sheng Siong H1 profit down 11.9% from year-ago high base as grocery frenzy eases
Mainboard-listed supermarket operator Sheng Siong Group saw a more subdued first half, after the year-ago high base from a buying frenzy when the pandemic first hit.Net profit was down by 11.9 per cent to S$65.9 million, as revenue slipped 8.8 per cent to S$681.7 million, according to unaudited financial results released on Thursday for the six months to June 30.
Sheng Siong noted in its outlook statement that third-quarter demand may be higher year on year, given the recent tightening of Covid-19 measures from July 22 to Aug 18.
But " the demand is likely to taper in the second half of 2021" , even as government support could ease on the back of an improving Covid-19 situation in Singapore.
Otherwise, Sheng Siong chief executive Lim Hock Chee said in a statement that " our expansion plan in China is also moving forward" , with lease agreements inked for two more stores that are slated to open in Kunming in the second half of the year.
Mr Lim added that the group is still looking for new retail space in Singapore " particularly in areas where we have yet to build a presence" , despite tighter supply amid the pandemic that affected expansion plans.
For the six months, earnings per share fell to 4.39 Singapore cents, from 4.98 cents previously, while net asset value was S$0.26 a share, against S$0.25 as at end-2020.
The board declared an interim dividend of 3.1 cents a share, compared with 3.5 cents the year before. Books close on Aug 18 and payment will be on Aug 30.
Separately, Sheng Siong has named Patrick Chee to its board as an independent director. Mr Chee, 66, is senior legal consultant at Withers KhattarWong and also sits on the boards of China International Holdings, OneApex, MeGroup and QAF.
Sheng Siong shares closed down S$0.01, or 0.64 per cent, at S$1.56, before the announcements.
Going to throw soon... no confident alr
千 倍 ！ 千 倍 ！ 千 倍 ！ 
Sheng Siong Group to open fourth store in China
Supermarket operator Sheng Siong Group said on Wednesday that its subsidiary has entered into a lease agreement to open a new store in China.In an exchange filing, the mainboard-listed company said the new store - located in the city of Kunming in Yunnan province - is expected to be operational before the end of this year.
The lease agreement was signed for retail space spanning 30,772 square feet. With the new store, Sheng Siong Group would have a total of four stores in China, in addition to 63 in Singapore.
The group said the new store is not expected to have a significant impact on its financial performance for the current financial year ending Dec 31.
The announcement on Wednesday comes around a month after the group announced its third store in China.
In June, the supermarket operator said its subsidiary had entered into a lease agreement for a 37,800 square feet retail space, also located in Kunming. The third store was then expected to be operational before the end of Q3 this year.
Sheng Siong Group shares rose 0.6 per cent or S$0.01 on Wednesday to close at S$1.60 before the announcement.
Not moving at all leh. :)
Next station 168
Maybe Dairy Farm too to add to the list.
kepoh88 ( Date: 20-Jul-2021 18:11) Posted:
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Tomorrow just grab it at opening for good profit
Lookout for SS, Hanwell and Hosen...
And also PH2 short term only.
Sibehboeng ( Date: 20-Jul-2021 16:04) Posted:
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Why long queue? Still can takeaway food from outside...
easywin ( Date: 20-Jul-2021 15:45) Posted:
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Any long queue at Sheng Siong?
P2HA, Huat ah!!