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

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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<li>
<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 a 5% YoY/12%YoY revenue/net profit growth for Q3 FY24. Operating margins expanded by 30 bps, leading to a higher profit.</li>
<li>The purchase of the Jelita Property for 50.2 mn SGD, while positive for the store count + rental income, is a net negative for the company's 24% ROCE.</li>
<li>Trading at 16.7x PE with a 4% dividend yield and 300 mn SGD net cash ( after the 50 mn SGD property transaction), the company is still attractive. </li>
</ul>



Sheng Siong (SSG SP) reported a 5% YoY/12%YoY revenue/net profit growth for Q3 FY24. Operating margins expanded by 30 bps, leading to a higher profit.
The purchase of the Jelita Property for 50.2 mn SGD, while positive for the store count + rental income, is a net negative for the company's 24% ROCE.
Trading at 16.7x PE with a 4% dividend yield and 300 mn SGD net cash ( after the 50 mn SGD property transaction), the company is still attractive. 


Sheng Siong Q3 2024: Great Quarter Again, But We Aren't Fans of the Property Transaction