Sheng Siong supermarket in Woodlands gets stay extension till June 2017

SINGAPORE - A supermarket in Woodlands run by supermarket chain Sheng Siong Group has had its lease extended by nearly a year.

Its supermarket at Block 6A Woodlands Centre Road was supposed to move out after Sept 30, 2016.

This was due to the Selective En Bloc Redevelopment Scheme (Sers) on Blocks 1A to 6A Woodlands Centre Road.

However, the firm said in a Singapore Exchange filing on Thursday that the Housing Board (HDB) has extended the supermarket's lease to June 30, 2017.

It therefore intends to renew its lease for its Woodlands Centre Supermarket till that date, it said.

Sheng Siong said earlier this year that the supermarket scene is expected to remain competitive.

It posted a 19.3 per cent rise in first-quarter net profit to $12.5 million in April.

Revenue for the three months to March 31 was up 5.7 per cent at $189.7 million on higher sales from existing stores as well as contributions from eight new stores.

Its shares rose 0.5 cent to end at 67 cents on Thursday.

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