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Sheng Siong to test waters in China

Singapore Business Review
Sheng Siong to test waters in China

Its JV store will open this year.

Singapore supermarket giant Sheng Siong could be looking for an alternate source of growth with its joint venture store in China.

According to DBS Group Research, Sheng Siong's first store in Kunming, which spans 40,000 sq. ft, is expected to commence operations this year.

"We believe Sheng Siong’s JV in China is a wildcard. If operations prove to be successful, in time to come, China can provide an alternate source of growth," analyst Alfie Yeo said.

There is scope for the number of stores to increase should Sheng Siong’s business model work, the analyst said, noting that the downside for the JV is limited to its US$6m paid-up capital which is sufficient to open 2-3 new stores.



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