Sheng Siong's growing footprint, strong balance sheet could stave off headwinds

EVEN amid the threat of e-commerce and economic uncertainties, Sheng Siong remains a popular pick among consumer stocks, thanks largely to its growing footprint and strong balance sheet.

Its has 52 outlets in its network, covering 477,620 sq ft. It has just bagged a tender to lease a 10,030 sq ft space in Woodlands from the Housing Development Board (HDB), and has also landed a 20,370 sq ft retail space from Dollar Land Singapore, also in Woodlands.

These two spaces are expected to offset the closure of two big stores in Woodlands and Serangoon, and to fuel growth in the near-to-medium term. Sheng Siong was also the highest bidder for another two shop units in Bukit Batok and Woodlands - 6,880 sq ft and 10,730 sq ft in size respectively. It is awaiting acceptane from the HDB for these, which could lift its total store tally to 54.