Sheng Siong Group

[Dividend Knight]

Another JV with Kunming LuChen?

Xpress in China supermarket JV with Sheng Siong and Kunming LuChen

SINGAPORE (May 27): Xpress Holdings says iSmart Investments (ISI), a wholly owned subsidiary of the company, has entered into a joint venture agreement with Sheng Siong Group and Kunming LuChen Group Co. to operate supermarkets in China.

The Joint Venture company will have a registered capital of US$10 million ($13.7 million). Sheng Siong Group will subscribe to a 60% stake for US$6 million; Kunming LuChen will subscribe to a 30% stake for US$3 million; while ISI will subscribe to a 10% stake for US$1 million.
...
http://www.theedgemarkets.com/sg/article...ing-luchen

Xpress Holdings seem to have a checkered past.

http://www.channelnewsasia.com/news/busi...63100.html

I can understand Sheng Siong partnering Luchen, but Xpress Holdings' core business is very different from supermarkets operations. 

I assume Xpress Holdings just provide the capital as a 'sleeping' partner while Sheng Siong provides the operational expertise and Luchen provides the local know-out.....

[CityFarmer]

Xpress Holdings seem to have a checkered past.

http://www.channelnewsasia.com/news/busi...63100.html

I can understand Sheng Siong partnering Luchen, but Xpress Holdings' core business is very different from supermarkets operations. 

I assume Xpress Holdings just provide the capital as a 'sleeping' partner while Sheng Siong provides the operational expertise and Luchen provides the local know-out.....

The SGX warnings, were issued on former executive chairman and CEO Fong Kah Kuen. The current management is a new team.

[holymage]

My guess is Mr Tan Ling San retired and pulled out. Xpress holdings is 31% owned by Ma Wei Dong who is also chairman of Kunming Luchen Group.

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[Xiaosaint]

Another JV with Kunming LuChen?

Xpress in China supermarket JV with Sheng Siong and Kunming LuChen

SINGAPORE (May 27): Xpress Holdings says iSmart Investments (ISI), a wholly owned subsidiary of the company, has entered into a joint venture agreement with Sheng Siong Group and Kunming LuChen Group Co. to operate supermarkets in China.

The Joint Venture company will have a registered capital of US$10 million ($13.7 million). Sheng Siong Group will subscribe to a 60% stake for US$6 million; Kunming LuChen will subscribe to a 30% stake for US$3 million; while ISI will subscribe to a 10% stake for US$1 million.
...
http://www.theedgemarkets.com/sg/article...ing-luchen

Xpress Holdings seem to have a checkered past.

http://www.channelnewsasia.com/news/busi...63100.html

I can understand Sheng Siong partnering Luchen, but Xpress Holdings' core business is very different from supermarkets operations. 

I assume Xpress Holdings just provide the capital as a 'sleeping' partner while Sheng Siong provides the operational expertise and Luchen provides the local know-out.....

I think this is the same JV that was previously announced by Sheng Siong. Just that the Executive Director, Tan Ling San's, 10% stake has been transferred to Xpress Holdings. If this is a separate JV, there should have been some announcement by Sheng Siong.


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[CityFarmer]

My guess is Mr Tan Ling San retired and pulled out. Xpress holdings is 31% owned by Ma Wei Dong who is also chairman of Kunming Luchen Group.

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It is very likely the reason. Anyway, both are subsidiaries of Sheng Siong, but with slightly different shareholders.

[Xiaosaint]

There you have it. This announcement confirm it.

https://s3-ap-southeast-1.amazonaws.com/...KIB0.1.pdf


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[CityFarmer]

Sheng Siong growth story is continuing. Revenue growth of about 5%, is above the sector growth rate, Sheng Siong is enlarging its market share, albeit slowly.

(vested)

Sheng Siong posts 11.3% rise in 2Q earnings from new stores

SINGAPORE (July 26): Sheng Siong has posted an 11.3% increase in earnings to $15.2 million for 2QFY2016.

For the quarter to June, revenue grew 5.5% to $188.8 million, on the back of the maiden revenue contribution from its new stores at Circuit Road, Upper Boon Keng Road and Fernvale. For the half year period, earnings rose 14.1% to $31.6 million as revenue rose 5.3% to $397.3 million.
...
http://www.theedgemarkets.com.sg/sg/arti...new-stores

[CityFarmer]

The analyst might not fully understood the grocery e-commerce status in Singapore. Redmart still bleeding in Singapore, with its high-logistic-cost. Redmart business model, might not work in Singapore due to its unique population distribution. AmazonFresh isn't available in Singapore.

Sheng Siong is facing more e-commerce threat in its upcoming China venture.

(vested)

Sheng Siong’s threat is edging nearer than you think

SINGAPORE (Sept 16): UOB Kay Hian is initiating coverage on Sheng Group (SSG) with a “hold” and target price of $1.13 given that the stock price is reflecting all the positive views at current levels. Long term though, SSG’s will face higher competition from e-commerce players and lack of domestic growth opportunities.
...
http://www.theedgemarkets.com.sg/sg/arti...-you-think

[getrich]

Redmart still bleeding in Singapore, with its high-logistic-cost.

Source?

[Sampling]

Redmart still bleeding in Singapore, with its high-logistic-cost.

Source?

https://www.techinasia.com/redmart-finan...ports-2016

Here you go dude.