Sheng Siong was already there before ESG became a buzzword

SHENG Siong Group created a stir last week after news surfaced that the mainboard-listed supermarket chain operator will be rewarding its more than 3,000 employees with up to 16 months of bonuses.

The supermarket operator later filed a statement with the Singapore Exchange to say that there has been no change to how it has been rewarding its staff since 2007 - before it went public in 2011.

Way before ESG - the acronym for environmental, social and corporate governance - became a buzzword and funds with ESG themes exploded in popularity, the supermarket operator had already adopted at least the social aspect of ESG.