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

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

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<a href="https://www.smartkarma.com/entities/sheng-siong-group-ltd" target="_blank" data-smartkarma-citation="entities:6824:1" rel="noopener">Sheng Siong (SSG SP)</a> reported steady revenues/profits in Q2 2024, up 1.2%/4.7% YoY. In H1 2024, revenues/profits were up 3.4%/6.8% YoY due to same-store sales growth of 6.4%.</li>
<li>The company expanded its footprint by two stores to 71 in H1 FY24 in Singapore. Two additional stores will open in July 2024, <a href="https://links.sgx.com/FileOpen/SSG%20-%201HFY2024%20-%20Results%20Announcement.ashx?App=Announcement&amp;FileID=813322" target="_blank" rel="noopener">followed by ten tender results in H2</a>. </li>
<li>The stock trades at a 16.3x PE, has a 4.3% dividend yield, and holds 16% of the market cap in net cash. Opportunities for higher growth are on the horizon.  </li>
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Sheng Siong (SSG SP) reported steady revenues/profits in Q2 2024, up 1.2%/4.7% YoY. In H1 2024, revenues/profits were up 3.4%/6.8% YoY due to same-store sales growth of 6.4%.
The company expanded its footprint by two stores to 71 in H1 FY24 in Singapore. Two additional stores will open in July 2024, followed by ten tender results in H2. 
The stock trades at a 16.3x PE, has a 4.3% dividend yield, and holds 16% of the market cap in net cash. Opportunities for higher growth are on the horizon.  


Sheng Siong Group (SSG SP) Q2 2024: Steady - Opportunities To Grow in H2