In today’s briefing:
- Sheng Siong (SSG SP) – Great Execution So Far, Maintaining >20% ROCE
Sheng Siong (SSG SP) – Great Execution So Far, Maintaining >20% ROCE
- Sheng Siong (SSG SP) continues to maintain steady, low, single-digit growth in revenue and flat profitability despite a challenging environment.
- Inflation trends reversing due to lower power costs in 2024, and an improvement in its product mix could lead to increased low double-digit profitability (10-11% YoY).
- Trading at 18.5x/17.6x FY23e/24e PE and 3.9% dividend yield, the stock remains on our watchlist if a correction leads to a favorable entry point.
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