Pandemic cooking dishes up Sheng Siong gains

Supermarket chain's Q3 profit soars 54.4% to $31.8m due to higher demand for groceries

Sheng Siong, Singapore's third-largest supermarket chain with more than 60 stores across the island and a market capitalisation of $2.35 billion, found a niche among heartland residents and cost-conscious consumers, especially amid this uncertain eco
Sheng Siong, Singapore's third-largest supermarket chain with more than 60 stores across the island and a market capitalisation of $2.35 billion, found a niche among heartland residents and cost-conscious consumers, especially amid this uncertain economic climate. ST FILE PHOTO
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BUSINESS GO-GETTERS | Despite the economic slump this year, some Singapore firms have been able to seize opportunities and prevail against adversity, such as Sheng Siong, Sea and Ninja Van. The Straits Times looks at their business performance and the outlook ahead.

Many shops shuttered this year after bearing the brunt of the Covid-19 crisis, but one category of retail stood its ground with no shortage of customers, and became even more popular.

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A version of this article appeared in the print edition of The Straits Times on December 23, 2020, with the headline Pandemic cooking dishes up Sheng Siong gains. Subscribe