Cory Diary : Sheng Siong 1H 2022

Sheng Siong result is within expectation with Covid measures on decline. The China operation continues to be profitable. Other income is basically Government grants on reduction and Sheng Siong still managed to achieve stronger net profit.

Revenue decrease and that we probably assume Malls able to pull away from easing of Covid tension despite inflationary environment that Sheng Siong should benefits. Their report highlighted Q2 FY2020 as reference when Covid measures resulted elevated demands however Q2 FY2021 Revenue is still higher than Q2 FY2022. So something to monitor.

Nevertheless is still a pretty set of good result and maintain a place in my portfolio to counter Inflation and Recession.  Current dividend yield roughly 3.9%.

Cory

2022-0802

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