As of Sunday, 14 December 2025, Singapore markets are closed. Sheng Siong Group Ltd (SGX:OV8) last traded on Friday, 12 December 2025, ending at S$2.61. StockAnalysis
The past few sessions looked like a classic “supermarket stock” week: a sharp wobble, a steady recovery, and then a pause right around a psychologically important zone (the S$2.60–S$2.66 band). StockAnalysis
Below is a detailed look at what moved Sheng Siong stock this week, what analysts are saying right now, and what investors are likely to watch in the week ahead—with the big calendar dates called out in plain English.
Sheng Siong share price this week: a sell-off, then a rebound
Sheng Siong closed at S$2.61 on 12 Dec, with a day range of S$2.55 to S$2.62 and volume around 3.25 million shares. Sginvestors
Looking across the week’s trading range, the story is:
- Monday (8 Dec): a sharp drop to S$2.57 on heavy volume (~5.85m shares), after closing S$2.66 the prior Friday. StockAnalysis
- Tue–Fri (9–12 Dec): a staged recovery back to S$2.60–S$2.61. StockAnalysis
If you measure the week from Mon close (S$2.57) to Fri close (S$2.61), that’s roughly +1.6%. If you measure from the prior Friday close (S$2.66) to this Friday close (S$2.61), that’s about -1.9%. StockAnalysis
That split matters because it hints at two competing forces:
- profit-taking after a strong 2025 run, and
- buyers still stepping in on dips around the mid-S$2.50s.
The biggest “fresh” headline: Sheng Siong enters the STI reserve list
One of the most concrete market structure updates in the last days: Sheng Siong is set to enter the Straits Times Index (STI) reserve list, following the December 2025 quarterly review. SGX Links
A few key details that investors sometimes miss:
- No changes were made to STI constituents in this review (so Sheng Siong is not being added to the STI right now). SGX Links
- The reserve list changes take effect at the start of business on 22 December 2025. SGX Links
Why the reserve list matters anyway: it can increase a stock’s visibility and keep it on the radar of index-watchers—especially into the next review window. It’s not a “forced buying” event like an actual index inclusion, but it can still influence sentiment and flows around key dates.
Analyst action in focus: DBS downgrades Sheng Siong to “Hold” on valuation
The most discussed broker development recently is DBS Group Research downgrading Sheng Siong to “Hold” with a S$2.60 target price, arguing that the stock’s rally has already priced in a major near-term tailwind: the SG60 vouchers. DBS Bank
DBS’ stance (in essence) is not “the business is broken”—it’s “the good news is already in the price.” In the same research note, DBS stays constructive on the supermarket sector and frames SG60 vouchers as a meaningful demand driver. DBS Bank
What DBS expects (and what that implies for Sheng Siong)
DBS highlights:
- an estimated ~4% year-on-year supermarket industry growth in 2025, underpinned by SG60 vouchers; DBS Bank
- 2026 as a potentially standout year, with vouchers contributing to an estimated annualised sales uplift for the sector; DBS Bank
- for Sheng Siong specifically, assumptions of around ~8% top-line growth and ~10% earnings growth (FY26F), supported by store network expansion and operating leverage. DBS Bank
Those are estimates (not guarantees), but they explain why the debate has shifted from “is there a tailwind?” to “how much of that tailwind is already baked into S$2.60+?”
SG60 vouchers: the demand tailwind is real—and it runs into 2026
Because “SG60 vouchers” keeps showing up in broker notes, it’s worth grounding the discussion in what’s official.
Singapore’s SG60 voucher programme (Budget 2025 initiative) provides:
- S$600 in SG60 vouchers to Singapore Citizens aged 21–59 in 2025, and
- S$800 to Singapore Citizens aged 60+,
with vouchers disbursed across July 2025 and expiring on 31 December 2026. Gov
Crucially for supermarkets: half of the SG60 vouchers are allocated for spending at participating supermarkets (the other half for participating heartland merchants and hawkers). SG60 Vouchers
That structure is exactly why analysts keep linking Sheng Siong (and peers) to the programme: it’s a policy-driven spending channel that’s unusually direct.
Fundamentals checkpoint: Sheng Siong’s latest reported momentum (3Q/9M FY2025)
Even though the most recent financial update isn’t from “this week,” it’s still the core evidence behind the bullish case.
In Sheng Siong’s 3Q FY2025 business update (for the quarter ended 30 Sep 2025), the company reported:
- 3Q revenue up 14.4% year-on-year to about S$415.5m, and
- 9M revenue up 9.5% year-on-year to about S$1.18b. SGX Links
Profitability also improved year-on-year in that update:
- profit attributable to owners in 3Q up 11.9% (to about S$43.7m), and
- 9M profit attributable to owners up 6.5% (to about S$116.1m). SGX Links
And on margins:
- the update shows gross profit margin at 31.5% in 3Q and 31.1% for 9M (vs 31.3% and 30.5% a year earlier). SGX Links
This lines up with how local business coverage framed the quarter: stronger earnings, slightly better gross margin, and continued growth momentum. The Business Times
The operational “big project” investors are watching: Sungei Kadut lease starts 18 Dec 2025
One of the most underappreciated near-term calendar points is not an earnings date—it’s a real-world operational milestone.
Sheng Siong disclosed that its subsidiary accepted arrangements relating to a 33-year lease of land at Sungei Kadut Street 1, with the lease expected to commence on 18 December 2025 (after a rent-free period between possession and commencement). SGX Links
The SGX filing also outlines key obligations tied to the site, including:
- at least S$120m in declared investment on new plant and machinery within 4 years from commencement; SGX Links
- completion of development/building works within 4 years, to a specified gross plot ratio range; SGX Links
- solar panel-related “green building” obligations (subject to roof area conditions). SGX Links
Strategically, the company positions Sungei Kadut as a new warehouse/distribution/HQ facility with capacity to support at least 120 supermarkets, aligning with its long-range store expansion goals. SGX Links
For the week ahead, the key point is simple: 18 December 2025 is a date that could pull attention back to execution—timelines, capex discipline, and what the buildout means for long-term operating leverage.
Valuation snapshot: where Sheng Siong stands now
At around S$2.61, Sheng Siong’s market cap is roughly S$3.92 billion, and StockAnalysis lists a P/E ratio ~27.14 (as of 12 Dec 2025). StockAnalysis
That valuation level is a big reason why recent broker commentary has leaned toward “Hold/neutral” even when fundamentals look healthy: the market is already paying up for resilience + growth.
For context on trading range, one market data source notes Sheng Siong traded between about S$1.54 and S$2.72 over the past 52 weeks. Sectors Financial Data Platform
Dividend check: what income investors should know
Sheng Siong is known as a steady dividend payer. Market data sources list:
- a semi-annual dividend pattern,
- annual dividend ~S$0.064 per share, and
- the most recent ex-dividend date: 14 Aug 2025. StockAnalysis
The immediate implication for “this week / next week”: dividends aren’t the short-term catalyst right now—sentiment is being driven more by valuation, voucher tailwinds, and the logistics expansion narrative.
Analyst forecasts and price targets: “solid business, tight upside” is the dominant vibe
Across commonly cited consensus trackers, the average target price tends to cluster around the mid–S$2.50s, implying limited upside (or mild downside) from S$2.61.
Examples:
- A consensus estimate (as presented by one local data platform citing SGX as its source) puts the target at about S$2.50 as of 14 Dec 2025. Beansprout
- MarketScreener shows an average target ~S$2.514 with “mean consensus” marked Outperform (with multiple analysts in its count). MarketScreener
- DBS’ headline view: Hold, target S$2.60. DBS Bank
There are also bullish house views published earlier (e.g., Maybank raising its target to S$2.55 and maintaining a BUY in early November; and other brokers active around the 3Q update). Sginvestors
Net-net: the market seems to be treating Sheng Siong less like a “cheap defensive” and more like a “premium compounder”—which is flattering, but it also sets a higher bar for surprises.
Week-ahead outlook (15–22 Dec 2025): what to watch
Here are the most relevant “calendar hooks” for the next stretch of trading:
1) 18 December 2025: Sungei Kadut lease commencement date
This is the formal start date for the Sungei Kadut lease term described in SGX filings. The market will be alert for any follow-on commentary, operational updates, or clarifications tied to the project. SGX Links
2) 22 December 2025: STI reserve list changes take effect
SGX’s announcement states the reserve list changes take effect at the start of business on 22 Dec 2025. That date can become a short-term attention magnet even without an actual STI inclusion. SGX Links
3) Year-end trading conditions: thinner liquidity, sharper reactions
This isn’t Sheng Siong-specific, but it matters. December can produce exaggerated moves on modest news—especially for stocks that had a big run earlier in the year.
4) The “SG60 voucher narrative” remains the core debate
The policy tailwind itself extends to end-2026, but investors will keep asking: is the incremental uplift already priced in? The DBS downgrade crystallised that question. DBS Bank
Risks to keep on the radar
A few things that could bite—even for a well-run supermarket operator:
- Multiple risk (valuation compression): At ~27x P/E on some datasets, disappointment doesn’t need to be dramatic to hurt. StockAnalysis
- Cost pressures: labour, utilities, rents, and procurement dynamics can squeeze margins, even when sales stay resilient. (DBS also flags wage pressure themes in its broader coverage.) DBS Bank
- Execution risk on Sungei Kadut: timelines, capex, and meeting the obligations described in SGX filings. SGX Links
- China exposure: Sheng Siong’s filings note competitive intensity in China, which can dilute focus and returns if the environment worsens. SGX Links
Bottom line: Sheng Siong’s setup into the new week
Sheng Siong (SGX:OV8) enters the week of 15 Dec 2025 with:
- a S$2.61 last close and signs of short-term consolidation after a choppy week, StockAnalysis
- a fresh visibility bump from joining the STI reserve list (effective 22 Dec), SGX Links
- a policy-driven demand tailwind (SG60 vouchers) that’s real and long-dated—but increasingly debated on valuation grounds, SG60 Vouchers
- and a near-term operational milestone on 18 Dec tied to the Sungei Kadut logistics/HQ project. SGX Links
