Billionaire Lim Hock Chee Leads Sheng Siong's Bold $402 Million Retail Expansion Strategy

Lim Hock Chee, Singapore’s retail magnate and majority shareholder of Sheng Siong Group, is steering the supermarket chain through an ambitious transformation that will reshape the country’s grocery landscape. The company is committing S$520 million ($402 million) to aggressively scale operations, signaling confidence in the sector despite recent consolidation pressures.

The growth initiative targets opening 40 new locations over the next decade and a half, scaling Sheng Siong’s footprint from approximately 80 stores today to 120 outlets by 2040. This expansion strategy arrives at a critical juncture—while some retailers have withdrawn from Singapore’s intensely competitive grocery market, Sheng Siong under Lim’s leadership is doubling down on domestic presence and operational excellence.

Modern Logistics: The Foundation of Growth

Central to this expansion is a state-of-the-art distribution hub under construction in Mandai, western Singapore. Secured through a 33-year lease agreement with JTC Corp, the government-linked industrial property company, the 61,297-square-meter facility represents a transformational upgrade from Sheng Siong’s existing 25,000-square-meter warehouse—offering 2.5 times greater capacity.

The new center incorporates multiple temperature-controlled zones and integrated food processing capabilities, allowing the company to manage perishable and non-perishable inventory with enhanced precision. Critically, Sheng Siong is investing in automated storage systems and robotic solutions designed to streamline inventory management and reduce operational costs—a technological leap that will enable faster store replenishment and better supply chain resilience.

Market Position and Competitive Context

Lim Hock Chee’s Sheng Siong Group ranks as Singapore’s third-largest supermarket chain by sales, trailing only the larger NTUC Fairprice. Yet the competitive environment is shifting. In March, DFI Retail Group—the Hong Kong-based Jardine Matheson subsidiary—exited the market by selling Giant hypermarket and Cold Storage grocery brands to Malaysia’s Macrovalue for S$125 million, highlighting the sector’s consolidation pressures.

This backdrop makes Lim’s commitment to expansion particularly notable. Rather than retreating, he’s investing in efficiency and scale as competitive differentiators.

From Street Vendor to Retail Visionary

The trajectory of Lim Hock Chee and his family reflects remarkable entrepreneurial evolution. Starting in 1985 with a modest pork stall, the family built Sheng Siong into Singapore’s third-largest grocery operator while maintaining majority ownership. Today, with an estimated net worth of $1.8 billion, Lim ranks among the city-state’s wealthiest citizens.

Sheng Siong’s expansion extends beyond Singapore, operating six outlets in China—a foothold that adds strategic dimension to the group’s regional ambitions. Yet the S$520 million investment signals that deepening the Singapore market remains central to Lim’s long-term vision for sustainable retail growth.