SHENG SIONG GROUP LTD
OV8.SI
Sheng Siong Group: Resilient stock
- The latest Nielsen global survey of consumer confidence and spending released on Tue revealed that Singapore’s consumer confidence index fell seven points to 94 in 4Q15. A level below 100 indicates signs of pessimism.
- It was reported that there are locals switching to cheaper grocery brands, while some stated they would continue to reduce their discretionary spending even during better times.
- While the data points on consumer confidence are not all encompassing, this data set is yet another indication of the muted sentiments.
- We believe Sheng Siong Group, whom is known to offer products at good value, remains resilient and can ride out the tough times.
- We have a BUY rating and fair value estimate of S$0.95 on the stock, which is also one of our top picks in the consumer sector.
Jodie Foo
OCBC Securities
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http://www.ocbcresearch.com/
2016-02-03
OCBC Securities
SGX Stock
Analyst Report
0.95
Same
0.95
