Sheng Siong ALL FOR YOU! *Huat Huat huat*

My other love. The love that I wished I had more. Pity the boat has sailed far and away.

Q3 results - stun like vegetables
Taken from their Q3 slides, I'll let the picture do the talking.

Key drivers: 
1. New outlets
2. Lower costs
  i. Lower Malaysian Ringgit (offset with rising USD)
 ii. Excellent cost control - Warehousing
iii. Productivity drive - more auto check out counters

Excluding new outlets' contributions, existing stores registered a 1.1% growth in sale. This points towards expansion of its presence being the key driver as organic growth seems to be stagnating.

New Stores
They've secured a new store at Dawson and is expect to contribute in November 2015. Their tactic to open stores in HDB buildings seems to be effective in keeping costs low and manageable. Notice they've no outlets in Town nor shopping malls.

Online
Their online platform still looks in the infancy stage, with the larger trend in Singapore still shopping in physical stores. I think Sheng Siong should fully prepare itself to tackle the online segment before Red Mart or HonestBee takes on a strong footing in this aspect.

China
Not much news on the development there. But as the competition seem to be rather keen in China, I'd rather SS do it slow and good than to throw the money down the drain.