OV8.SI
SGX50SESSheng Siong Group Ltd
Consumer Defensive · Grocery Stores · Singapore
Sheng Siong Group Ltd, an investment holding company, operates a chain of supermarket retail stores. The company's stores include live, fresh, and chilled produce, such as seafood, meat, fruits, and vegetables; dairy products; pantry staples, including rice, noodles, oils, spices, and seasonings; packaged, processed, frozen, and preserved food products; baby and personal care products; and assortment of beverages, wines, beers, and spirits, as well as other essential household merchandises. It is also involved in general trading, and wholesale import and export businesses. In addition, the company operates Sheng Siong Online, an online shopping platform for groceries. It operates stores in Singapore and Kunming, China under the Sheng Siong brand name. The company was founded in 1985 and is headquartered in Singapore.
shengsiong.com.sg ↗Shares trade at a premium 33.1× trailing earnings, easing to 28.6× on forward estimates. Profitability shows a net margin of 9.5% and return on equity of 25.4%. Leverage is modest at -1.5× net debt/EBITDA. Revenue grew 12.4% year-on-year. It yields 2.4% in dividends. The mean analyst target of SGD3.11 sits 5.9% below the current price (Buy, 9 analysts).
business model
Sheng Siong Group is one of Singapore's largest supermarket chains, operating a network of stores selling fresh produce, groceries and household products, with a focus on value pricing and operational efficiency. It earns revenue from retail grocery sales, supplemented by its own house-brand products which carry higher margins. It has also been expanding a small but growing supermarket presence in China (Kunming).
revenue segments
Revenue is predominantly from supermarket retail sales in Singapore across fresh, chilled and packaged groceries and daily necessities, with house/private-label brands enhancing margins. A modest and growing contribution comes from its China supermarket operations.
key dependencies
It depends on new store openings (often bidding for HDB/heartland retail space), same-store sales growth, food and supply-chain cost management, house-brand penetration, and Singapore consumer spending on groceries. Availability of suitable retail sites and labour costs are important constraints.
competitors
Competes with NTUC FairPrice, DFI Retail's Cold Storage and Giant, Prime and other supermarket chains, plus online grocery and delivery platforms such as Amazon, RedMart/Lazada and Shopee.
moat
Its moat is a cost-efficient, high-volume operating model, strong bulk-handling and distribution capabilities, a trusted value-for-money brand in the heartlands, and a growing high-margin house-brand range. Defensive demand for groceries provides earnings stability.
risks
Risks include limited store-expansion opportunities and competitive bidding for HDB sites, intense competition (including online grocery), food-cost inflation and margin pressure, rising labour costs, and execution risk in its China expansion.
Financials & metrics
as of 04 Jul 2026Tap any metric for an explanation.● provider● computedN/A not available from source
Dividends
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.