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What can derail Sheng Siong's stock?

Biggest risk for the supermarket group's share price is not its fundamentals, but the earnings multiples the market ascribes to its supposed defensive qualities

GLANCE at Sheng Siong's latest financial statements, and one might think the company is unstoppable. Sales continue to grow at a healthy clip, margins are improving, and net profit is up by double-digit terms.

Little wonder that the stock continues to be hot. As of last Friday, the