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Sheng Siong

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Sheng Siong Group Ltd.
Company typePublic
SGX: OV8
IndustryRetail
Founded1985; 39 years ago (1985)
FoundersLim Hock Chee (CEO)
Lim Hock Eng (Chair)
Lim Hock Leng (MD)
Headquarters
6 Mandai Link, Singapore 728652
Number of locations
68 stores (as of October 2023)[1]
Area served
Singapore
China
Key people
Lim Hock Chee (CEO)
ProductsGrocery stores, supermarkets and hypermarkets
RevenueIncrease SGD $829 million (2017) [2]
Increase SGD $69.5 million (2017) [2]
Number of employees
2,324 (2010).[3]
Websitehttps://shengsiong.com.sg
Bedok Central outlet (2008)
Former Sheng Siong outlet at Tekka Mall (2006)

Sheng Siong Group Ltd. (Chinese: 昇菘集团) is the parent company of Sheng Siong Supermarket Pte Ltd, commonly known as Sheng Siong, the third largest chain of supermarkets in Singapore.[4] The supermarket chain also airs its own television variety programmes named "The Sheng Siong Show".

History

Sheng Siong is a chain of supermarkets in Singapore founded by Mr Lim Hock Chee and his two brothers, Mr Lim Hock Eng and Mr Lim Hock Leng. Mr Lim Hock Chee is also the current CEO of Sheng Siong. [5][6][7][8]

The Lim family moved to another farm in Punggol in the 1970s. Years later, the farm experienced an excess supply of pigs, thus Lim Hock Chee and his wife rented a small section within a Savewell provision store in Ang Mo Kio to sell the chilled pork from their pig farm in 1984.[5] In 1985, following the move to phase out pig farming by the Singapore Government, the Lim brothers ventured into the retail business by launching Sheng Siong's foremost operation in a single shophouse unit, (in the same Savewell store premises in which Lim Hock Chee was selling pork, after the Savewell chain faced financial trouble and had to let go of its stores) together with an ex-Savewell managerial staff.[5][9][10][11] Sheng Siong has since evolved into a chain of 37 stores, mainly supermarkets, in Singapore.

The store initially focused on providing a wide range of no-frills products and increased sales by accepting lower profit margins. Other cost-saving measures included employing less staff and avoiding the use of in-house plastic bags.[7][10]

Sheng Siong has been awarded top 500 retail enterprises in 2007 and became the third-largest retailer in Singapore.[12] The company has also been awarded as Superbrands Singapore from 2008 to 2014.[13][14] Sheng Siong Group Ltd. is publicly listed at the SGX (code: OV8) since 17 August 2011.[15]

As of July 2014, the Lim brothers have a net worth of $545 million and are ranked 45th on the Forbes Singapore's 50 Richest list.[16]

In October 2013, Sheng Siong received the Solar Pioneer Award for its efforts to become a more environmentally-friendly business.[17][18]

Publicity

The supermarket chain has also launched its own television variety programmes named "The Sheng Siong Show" on Channel 8 (first premiered on 13 May 2007) and "Sheng Siong Live!" on Suria (since 2009) broadcast in Singapore, usually on weekends during prime time. "The Sheng Siong Show" is hosted by Dasmond Koh and Kym Ng, and both shows aims to generate publicity and sales promotion for Sheng Siong.[11][19]

The show first premiered on 13 May 2007 and ongoing for its 14th year with 28 seasons airing since.[20] During the show's run, over $15 million was awarded through various game segments, such as in-studio games, karaoke competitions, outdoor cooking (hosted by a correspondent[a] with one shopper winning $888), phone-in hundredfold (contestants have a chance to win 50, 60, 80 or 100 times of the receipt's purchase) and the weekly thousandfold cash reward (300, 400, 500 or 1,000 times the purchase).[b] On an episode aired 12 January 2019, Chen Si Jie (Chinese: 陈思洁) became the programme's largest winner in the show history after winning $193,400 during the thousandfold cash reward segment,[21][unreliable source?][22][23][24] and Chen was the third known largest winner in any Singaporean game show's history,[citation needed] behind Wu Huixin (Chinese: 吴惠欣) from Don't Forget The Lyrics, and Steven Tan from Who Wants to Be a Millionaire?, who respectively won $200,000[25] and $250,000.[26]

Philanthropy

In 2012, Sheng Siong received the Merit Award from the People's Association Community Spirits Award in recognition of its committed efforts in reaching out and contributing to the community.[27][19]

From 2009 to 2014, Sheng Siong was a benefactor for Singapore Red Cross Society's Project R.I.C.E which reaches out to underprivileged families by gifting them with rice during Chinese New Year.[28][29][30] The public could buy rice vouchers at a reduced price at any Sheng Siong outlet to support this initiative.[28][29] Sheng Siong raised the most rice at 111,813 kg in 2013.[29]

On the episode of The Sheng Siong Show that aired 28 December 2019, Sheng Siong donated $121,700 to the SPD organization during the Thousandfold Cash Reward game segment after a contestant withdrew from participation prior to the live episode. Sheng Siong became a supporter for SPD since 2012.[31][32]

Milestones and awards

Some of Sheng Siong's milestones are listed below:

1985 First Sheng Siong outlet was launched in Ang Mo Kio [7][8][33]
1988 A second outlet was opened in Bedok [7][8][33]
1995 Expanded to a third outlet at Woodlands – the first supermarket to offer both “wet and dry” shopping options [5][7][8][33]
2003 Three-in-one wet/dry market, supermarket and food court opened at Tekka Mall (now known as The Verge)
2007 - Launched the “Sheng Siong Show” on Mediacorp Channel 8 & Toggle Live.[11][19][33]

-Third-largest retailer in Singapore based on annual sales revenue from 2007 to 2013, according to the Retail Asia-Pacific Top 500 survey by Euromonitor International.[19]

2011 - Sheng Siong's new Headquarters cum Distribution Centre officially opened at Mandai Link.[33]

- Sheng Siong Group Limited was listed on the Mainboard of the Singapore Exchange.[19]

Selected awards achieved:

2008 Achieved the “Superbrands” status award from 2008 to 2014.[34][19]
2011 Received the “Most Transparent Company Award under the New Issues Category at the Securities Investors Association Singapore (SIAS) Investors’ 12th Choice Awards.[35]
2012 - Received the “Most Transparent Company Award” under the Retail and Household Goods category at the SIAS 13th Investors’ Choice Awards.[35][36]

- Merit Award from the People's Association Community Spirit Awards.[19]

- Awarded “Best of the Best” Retailer in Singapore for the Retail Asia Top 500 Awards from 2012 to 2013.[35][36]

2013 - Achieved the Solar Pioneer Award for the largest single solar panel installation in Singapore at their Mandai Distribution Centre.[17][18]

- Runner-up for the “Most Transparent Company Award” under the Retail and Household Goods category at the SIAS 14th Investors’ Choice Awards.[35]

2014 Winner of the Singapore Productivity Award [37]

See also

Notes

  1. ^ The current host is Seow Sin Nee as of season 27 (June 2020). Previous hosts including Vivian Lai, Tracy Lee, Seraph Sun and Denise Camillia Tan.
  2. ^ Before the fourth season (aired in November 2008), the thousandfold cash reward was then a draw for one shopper winning S$100,000, which held three times per season. Between seasons 4 and 23 (2008 to 2018), the thousandfold cash reward was conducted biweekly (once every two weeks), before changing to weekly starting season 24 (November 2018).

References

  1. ^ "Sheng Siong's Share Price Has Tumbled to a 52-Week Low: Should Investors Get Worried?". Yahoo Finance. 3 October 2023. Retrieved 4 October 2023.
  2. ^ a b "Sheng Siong's Q4 profit up 9.3%". Business Times. 22 February 2018. Retrieved 4 May 2018.
  3. ^ "Financial Highlights" (PDF). OCBC Bank. Archived from the original (PDF) on 1 October 2011. Retrieved 13 July 2011.
  4. ^ "Retailing in Singapore". Euromonitor. February 2012. Retrieved 5 March 2013.
  5. ^ a b c d Chan, F (10 June 2009). "From pig farmer to supermarket chain owner". The Straits Times. Retrieved from NewspaperSG. Retrieved 17 February 2015.
  6. ^ "Sheng Siong kidnapping: From pig farmer to supermarket tycoon; from the archives". The Straits Times. Retrieved from NewspaperSG. 10 January 2014.
  7. ^ a b c d e Teo, G (17 August 2003). "Now showing - Supermarket sweep". The Straits Times. Retrieved from NewspaperSG. Retrieved 17 February 2015.
  8. ^ a b c d Mulchand, A; Fong, T (13 June 2004). "His children will just have to fend for themselves". The Straits Times. Retrieved from NewspaperSG. Retrieved 17 February 2015.
  9. ^ Alvin Chua (16 June 2010). "NLB / Sheng Siong". National Library Board. Archived from the original on 14 September 2011. Retrieved 15 March 2012.
  10. ^ a b Mulchand, A; Fong, T (13 June 2004). "Mr No Frills". The Straits Times. Retrieved from NewspaperSG. Retrieved 17 February 2015.
  11. ^ a b c Mak, M.S. (11 February 2008). "Mind your p's and Queues". The Straits Times. Retrieved from Factiva.
  12. ^ "Sheng Siong chain climbs to third in S'pore for turnover". The Straits Times. 1 August 2008. Retrieved 18 August 2011.
  13. ^ "Superbrands Volume IV / Sheng Siong" (PDF). Superbrands. Archived from the original (PDF) on 29 September 2011. Retrieved 18 August 2011.
  14. ^ "Superbrands Volume V / Sheng Siong" (PDF). Superbrands. Archived from the original (PDF) on 29 September 2011. Retrieved 18 August 2011.
  15. ^ "Sheng Siong IPO: Wrong timing, but the right stock?". Business Times. Retrieved 13 July 2011.[permanent dead link]
  16. ^ "Singapore's 50 Richest". Forbes. 2014. Retrieved 17 February 2015.
  17. ^ a b Candice (2013). "Awarding the future of solar energy". Archived from the original on 18 February 2015. Retrieved 17 February 2015.
  18. ^ a b Shah, V (3 November 2014). "One company's mission to break solar records in Singapore". Retrieved 17 February 2015.
  19. ^ a b c d e f g Song-Dijong, C (2013). "Superbrands. Volume VI: an insight into many of Singapore's strongest brands" (PDF). Superbrands. VI. Singapore: SB Asia: 64–65. Archived from the original (PDF) on 18 February 2015. Retrieved 17 February 2015.
  20. ^ "《缤纷万千在昇菘16》The Sheng Siong Show 16". Mediacorp. 2014. Archived from the original on 18 February 2015. Retrieved 17 February 2015.
  21. ^ "Highest Amount $193,400 won at Sheng Siong show!!". Archived from the original on 13 January 2019. Retrieved 31 January 2019.
  22. ^ "Sheng Siong Mega Promotion January 2019 English" (PDF). Sheng Siong. Retrieved 19 January 2019.
  23. ^ "Sheng Siong Mega Promotion January 2019 Chinese" (PDF). www.shengsiong.com.sg. Retrieved 19 January 2019.
  24. ^ "The Friendship Vlog SPECIAL- The Sheng Siong Show- BIGGEST x1000 JACKPOT WINNER!!! 《缤纷万千在昇菘》破纪录千倍时刻！". YouTube. Archived from the original on 21 December 2021. Retrieved 21 July 2021.
  25. ^ 王, 英敏. 女建筑师一句歌词 捧走20万奖金 (in Chinese). Archived from the original on 17 October 2009.
  26. ^ 8 days (3 January 2002). 8 days Issue 587. Singapore: MediaCorp. p. 12.{{cite book}}: CS1 maint: numeric names: authors list (link)
  27. ^ Chan, D (24 July 2014). "Sheng Siong rings up healthy profits". The Straits Times. Retrieved from Factiva.
  28. ^ a b "PROJECT R.I.C.E 2014". Singapore Red Cross Society. 2014. Archived from the original on 18 February 2015. Retrieved 17 February 2015.
  29. ^ a b c "Bringing Love in Every Grain: project rice 2013". Singapore Red Cross Society. 2013. Archived from the original on 18 February 2015. Retrieved 17 February 2015.
  30. ^ "CUSTOMERS PLEDGE THEIR RICE DONATIONS FOR THE needy through buying special rice vouchers". Singapore Red Cross Society. 2013. Archived from the original on 18 February 2015. Retrieved 17 February 2015.
  31. ^ "SPD - Thank you Sheng Siong for the generous donation of $121,700! - Facebook". Singapore Red Cross Society. 2019. Retrieved 29 December 2019.
  32. ^ "The Sheng Siong Show 2019- Second X1000 Jackpot Win! (December 28, 2019) - YouTube". YouTube. Archived from the original on 21 December 2021. Retrieved 21 July 2021.
  33. ^ a b c d e "Milestones". Sheng Siong. 2014. Retrieved 17 February 2015.
  34. ^ "Annual Report 2014" (PDF). Sheng Siong Group Ltd. 2014. Retrieved 15 April 2015.
  35. ^ a b c d "Annual Report 2013" (PDF). Sheng Siong Group Ltd. 2013. Retrieved 17 February 2015.
  36. ^ a b "Annual Report 2012" (PDF). Sheng Siong Group Ltd. 2012. Retrieved 17 February 2015.
  37. ^ Kan, F (6 November 2014). "Banking on productivity for sustainable growth". The Business Times. Retrieved 17 February 2015.
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