Sheng Siong Group, a Singapore-based grocery chain controlled by billionaire Lim Hock Chee and his family (net worth ~USD 1.8 billion), has announced an SGD 520 million (USD 402 million) investment to bolster its domestic operations. The expansion strategy includes opening three new stores between 2035 and 2040, growing the network from 80 to 120 outlets by the end of that period.
Central to the plan is the development of a new 61,297 square meter (sqm) warehouse in Mandai, western Singapore, leased for 33 years from state-owned JTC Corporation. This facility, 2.5 times larger than the current 25,000 sqm warehouse, will incorporate temperature-controlled storage, integrated food processing capabilities, and advanced automation/robotic systems for inventory management. According to Sheng Siong Group, the increased capacity and new technology will strengthen warehouse management operations, improve cost efficiency, and provide flexibility to support the company’s expansion strategy, optimizing supply chain resilience for long-term growth.
Founded by Lim Hock Chee, who started with a pork stall in 1985, Sheng Siong has evolved into a major retailer with a majority family stake and six stores in China. The investment highlights strategic confidence in Singapore’s grocery market, leveraging technological upgrades to drive cost efficiencies and growth despite sector challenges. By focusing on infrastructure and innovation, Sheng Siong positions itself for sustained expansion, potentially setting a benchmark for resilience in Southeast Asia’s retail landscape.
(Source: Retail Insight Network)
