๐๐๐My Favourite Singapore Consumer Defensive Stock is $SHENG SIONG GROUP LTD(OV8.SI)$ With high inflation here, Sheng Siong will be resilient and impervious to economic cycles.
Sheng Siong is the 3rd largest supermarket chain in Singapore with more than 65 locations and 4 supermarkets in China with the 5th opening in 2nd quarter 2023. Sheng Siong represents value for money to many Singaporeans especially the housewives.
Sheng Siong's gross profit margin was 29.4% for 3Q FY 2022 compared to 29% in 3Q FY 2021. Its revenue declined by 4.2% year on year to SGD 333.5 million due to the Covid 19 measures in place and the closure of Jurong Fishery Port for 2 weeks in July 2021 and Pasir Panjang Wholesale Centre in September 2021.
In the latest Budget, the Singapore Government has announced an increase of SGD 3 billion in Assurance Package. Together with the GST and CDC vouchers, Sheng Siong will benefit as more Singaporeans like me will prefer to dine at home, shop at supermarkets and looking for ways to stretch our dollars.
Sheng Siong has a wide moat due to its extensive distribution network and purchasing power. It has a great management team which does a great job in cost control and cares for its employees and shareholders.
What I like best about Sheng Siong is that it pays steady and reliable dividends. The current dividend yield is 3.88%.
I am bullish on $SHENG SIONG GROUP LTD(OV8.SI)$ as I believe it will continue to grow exponentially with new stores.
Go Long Go Strong Go Sheng Siong! ๐๐๐๐๐๐๐๐๐๐ฐ๐ฐ๐ฐ
@Daily_Discussion @MillionaireTiger @TigerStars @CaptainTiger
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