This consumer stock should remain steady in the face of stronger competition

SINGAPORE (Nov 30): OCBC Investment Research has declared Sheng Siong Group (SSG) as its latest and sole preferred “buy” pick at an estimated fair value of $1.15, while maintaining its “neutral” stance on Singapore’s consumer sector.

In a Tuesday report, lead analyst Jodie Foo notes how the consumer sector saw a series of privatisations and acquisitions, which suggests that valuations have been generally reasonable.

“While sound long term growth fundamentals remain intact for the region, particularly for Asia emerging markets, near term outlook has been clouded by uncertainties arising from the region itself (Philippines and Thailand for instance) as well as on a global scale,” says Foo.

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