SUPERMARKET company Sheng Siong said on Friday (Sep 22) that it had inked a lease agreement to open a new store in Kunming, China, through its subsidiary Sheng Siong (China) Supermarket Co.

The new store will take up a retail space of approximately 83,624 square feet at the Yunnan Aegean Shopping Park. It is expected to be operational before the end of the second quarter of 2024.

This brings Sheng Siong’s total store count in China to six, following an earlier announcement in January that it would be opening its fifth store in China – also in Kunming. The group has 69 outlets in Singapore.

The group added that the new China store is not expected to have a significant impact on its financial performance for the financial year ended Dec 31, 2023.

Shares of Sheng Siong closed flat at S$1.52 on Friday, before the announcement.