math_of_money
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Sheng Siong Group
05-08-2017, 11:18 PM,
Post: #561
Sheng Siong Group
Check this out!

Wonder what they are up to? Anyway, i bought 18 bottles with the help of my friends... [Image: 710f0dda829d61f3c346e818db558887.jpg]

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06-08-2017, 09:02 AM,
Post: #562
RE: Sheng Siong Group
Wow..... buy 2 at -$0.70.


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06-08-2017, 10:57 PM,
Post: #563
RE: Sheng Siong Group
Putting on the skeptic hat, do you need to spend minimum XXsgd to use that 5sgd voucher?

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10-08-2017, 11:00 PM,
Post: #564
RE: Sheng Siong Group
nope, no minimum spending. it's literally FREE money.

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30-09-2017, 07:44 PM,
Post: #565
RE: Sheng Siong Group
I noticed that there has recently been a new chain of supermarket/provision shop, called Hao Mart, sprouting out. From their Facebook page, I counted 34 stores!

https://www.facebook.com/pg/haomartsg/ab...e_internal

I have been to a few, and as one would expect of small provision shops, their prices are not very competitive.

Still, the owner must have invested a lot of money to scale up to 34 stores for greater bargaining power when purchasing.

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30-09-2017, 09:04 PM, (This post was last modified: 30-09-2017, 10:44 PM by Big Toe.)
Post: #566
RE: Sheng Siong Group
Hao Mart's boss is the CEO/majority shareholder of former listed company(taken private). Dont recall the exact name of the company but core business was aerospace parts. Was not doing too well in aerospace, minimarts are easier once there is scale. Just open aggressively everywhere and those that are not profitable, close them down, leave the healthy ones behind and you have a decent business that is sustainable. You need at least a decent 10-20M of course. As Big Toe would say, you need to be rich in order to become richer. there are just more opportunities open to those with the means.

Hao Mart is more like a 7-11/cheers, convenience store/minimart rather than a supermarket/hypermarket. Their prices are actually much more competitive than 7-11/cheers. Comparing them to supermarkets would not be an apple to apple comparison. NTUC/Sheng Shiong/Giant will have a much bigger advantage over hao mart in many respects. Purchasing power/distribution/overall gross margin/ability to secure larger sites/etc

In short, with 20M in hand, it would be very much easier to open many hao-marts rather than a few sheng shiongs. Hao mart have been trying to secure larger sites without overpaying but with no success.

Impressed by Toe's detailed insights into many industries? You should be. Smile

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