Sheng Siong Group - UOB Kay Hian 2023-01-19: Staying Defensive Amid Inflation & GST Hike

Sheng Siong Group - Staying Defensive Amid Inflation & GST Hike

Published:
SHENG SIONG GROUP LTD (SGX:OV8) | SGinvestors.ioSHENG SIONG GROUP LTD (SGX:OV8)
  • As the Singapore government increases the GST rate from 7% to 9% in two stages, we believe Sheng Siong (SGX:OV8) will continue to enjoy steady demand with changing consumer dining habits. This should offset the reduced demand from the easing of COVID-19 restrictions.
  • - Read this at SGinvestors.io -

Elevated inflationary environment and GST hike led to more at-home meals.

  • Singapore has increased its good and services tax (GST) from 7% to 8% on 1 Jan 23. In a bid to cushion the blow of the newly-introduced rate hike, Sheng Siong has launched a “Counter-Inflation Discount” till 31 Mar 23, where shoppers can get most in-store products at 1% off.
  • - Read this at SGinvestors.io -

Steadily growing gross margin a strong testament to ability to pass on costs.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2023-01-19



Read also UOB's most recent report:
2023-11-02 Sheng Siong Group - 3Q23 Results In Line; Opportunities Arise With Steady Supply Of HDB Projects.

Previous report by UOB:
2023-07-31 Sheng Siong - 2Q23 Another Steady Quarter Despite Challenging Backdrop.

Price targets by other brokers at Sheng Siong Target Prices.

Listing of research reports at Sheng Siong Analyst Reports.

Relevant links:
Sheng Siong Share Price History,
Sheng Siong Announcements,
Sheng Siong Dividends & Corporate Actions,
Sheng Siong News Articles





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