SINGAPORE (July 5): Maybank is keeping its “buy ” call for Sheng Siong Group, with a target price of $1.12 while Daiwa is sticking with its “outperform” rating with a target price of 97 cents.

This comes as NTUC FairPrice recently launched its FairPrice Shop, a mini-market style shop mostly filled with low-priced house brand products. Currently, NTUC has two such shops at Eunos and Circuit Road, converted from older supermarkets, with plans for four more by end-2016.

Daiwa analyst Jame Osman is cautious on this new development. “Given the smaller size and limited product offerings of these NTUC stores, it is as yet unclear whether these stores could materially impact Sheng Siong’s operations,” says Osman.

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