SINGAPORE (THE BUSINESS TIMES) – Sheng Siong Group on Wednesday (June 9) said its subsidiary has entered into a lease agreement for its third store in Kunming, China.
The supermarket operator expects the new store to be operational before the end of the third quarter of this year, it said in a bourse filing.
The retail space spans about 37,800 sq ft and is located at 1F Unit 101, Chun Cheng Hui Gu Phase 2 Commercial Building, Haiyuan District, Heilinpu Wuhua District Residential Office, Kunming, China.
The subsidiary, Sheng Siong (China) Supermarket Co, on June 1 signed the lease agreement with Yunnan Yingjun Commercial Operation Management Co.
Sheng Siong said the new store is not expected to have a significant impact on its financial performance for the financial year ending Dec 31, 2021. The new store brings the group’s store count to 63 in Singapore and three in China.
Shares of Sheng Siong closed at $1.57 on Tuesday, down one cent or 0.6 per cent.