CIMB is maintaining its “add” rating for Sheng Siong with a 95 cents target price.
CIMB notes the acquisition of an existing store premises by Singapore retailer for $53 million.
Brokerage says that Sheng Siong is trying to be asset-light, so this is an odd move, but it could actually work positively for the company's profit outlook and “does little to dent the group's balance sheet”.
The reason for the purchase is likely because the company did not want to risk losing an important store in its portfolio, adds CIMB.
At 9.48am, Sheng Siong is up 0.59% at 86 cents.
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CIMB notes the acquisition of an existing store premises by Singapore retailer for $53 million.
Brokerage says that Sheng Siong is trying to be asset-light, so this is an odd move, but it could actually work positively for the company's profit outlook and “does little to dent the group's balance sheet”.
The reason for the purchase is likely because the company did not want to risk losing an important store in its portfolio, adds CIMB.
At 9.48am, Sheng Siong is up 0.59% at 86 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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