Company News

Sheng Siong Group Ltd is pleased to announce that the Company has entered into a non- binding letter of intent dated 21 August 2014 in relation to a proposed joint venture (“Proposed Joint Venture ”) with Kunming LuChen Group Co., Ltd to operate supermarket sin the People’s Republic of China (“PRC”). At this juncture, it is envisaged that: (i) the joint venture company (“JVC”) will have a registered capital of US$10 million; (ii) the Group will hold 60% of the equity interest in the JVC; (iii) the LuChen Group will hold 30% of the equity interest in the JVC; and (iv) the Company’s Executive Director, Mr. Tan Ling San, will hold 10% of the equity interest in the JVC.