Sheng Siong Group - OCBC Research 2016-02-03: Resilient stock

Sheng Siong Group - OCBC Research 2016-02-03: Resilient stock 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 | http://www.ocbcresearch.com/ 2016-02-03
OCBC Securities SGX Stock Analyst Report BUY Maintain BUY 0.95 Same 0.95


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