Sheng Siong Group a Defensive Play Amid Rising Inflation, Slower Growth -- Market Talk

Dow Jones05-06 11:22

0322 GMT - Sheng Siong Group is likely a defensive play amid rising inflation and slower growth in Singapore, OCBC Group Research's Chu Peng says in a research report. Demand for groceries at the supermarket chain operator could be underpinned by a shift in consumption patterns toward a focus on value-for-money purchases due to inflationary pressures and a higher cost of living, the analyst says. Also, grocery sales could be supported by inflation-relief measures announced in Singapore's 2026 budget. OCBC raises the stock's fair value estimate to S$3.26 from S$2.78 to partly reflect a lower cost of equity assumption, while maintaining a hold rating. Shares are 1.6% higher at S$3.14. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

May 05, 2026 23:22 ET (03:22 GMT)

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