Retail Staples Sector - RHB Invest 2024-06-19: Growth & Recovery On Track; Stay OVERWEIGHT

• We stay OVERWEIGHT on Singapore grocery retailers with BUY calls on DFI Retail (SGX:D01) and Sheng Siong (SGX:OV8). Growth for DFI Retail is driven by the turnaround of Hong Kong and China operations, while Sheng Siong’s growth is to be led by new stores.

1Q24 within expectations.

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -

Sector on track for growth and recovery.

• Read more at SGinvestors.io.

Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2024-06-19 SGinvestors.io

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