Border closures, movement control orders and strict lockdowns have adversely impacted a wide range of industries.No one knows when things will pick up again, despite the easing of the circuit breaker measures on 2 June.There have been bright spots amongst the wreckage, and some companies have managed to shine despite the tough challenges facing the economy.
In a business update released for the first quarter of 2020 , the supermarket chain reported a 30.7% year on year jump in revenue, while net profit soared 50% year on year to S$29 million. While demand has normalised during the second quarter, Sheng Siong should still report a decent set of earnings due to elevated purchase demand for home cooking, and also for more office workers and students who work and study from home.Besides, a tender was also won for a shop in Potong Pasir Community Club.
The group was formed in 2000 and has grown its assets under management to S$9.54 billion as of 31 March 2020. Record net flows have also been recorded in the first quarter of 2020 as many investors opened new brokerage accounts to take advantage of bear market valuations.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong: Stocks finish with losses as virus cases grow[HONG KONG] Hong Kong stocks finished Monday with a loss as investors fret over a spike in coronavirus cases in the city that has forced authorities to step up containment measures. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Seoul: Stocks slide on uncertainty over EU, US stimulus[SEOUL] South Korean shares slipped on Monday as deadlocked talks in Europe over a recovery package to help economies cope with the Covid-19 fallout dented investor sentiment. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Europe: Stocks start week in red[LONDON] Europe's stock markets opened lower Monday as EU leaders struggled to unite over the terms of a vast 750-billion-euro (S$1.19 trillion) post-coronavirus economic rescue plan. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Singapore stocks open flat on MondaySINGAPORE shares struggled to advance at the start of the week, with the key Straits Times Index inching up 0.02 point to 2,618.50 as at 9.02am on Monday. This comes after Singapore stocks similarly drifted through most of Friday, after a dull, directionless session. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Hong Kong: Stocks drop at open[HONG KONG] Hong Kong shares fell at the open Monday, with investors spooked by a spike in coronavirus infections in the city that has forced the government to impose further containment measures. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Stocks to watch: Sembcorp, SIAEC, Yangzijiang, Thomson Medical, CDLHT, EC World ReitTHE following companies saw new developments that may affect trading of their securities on Monday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »