Sheng Siong (SGX: OV8)
Sheng Siong is one of the largest supermarket chains in Singapore with 73 outlets across the island. The group sells a wide variety of products including live and chilled seafood, daily necessities, toiletries, and essential household products. The retailer reported a strong set of earnings for the first half of 2024 (1H 2024)....The Central Provident Fund (CPF) scheme is an effective one to help Singaporeans to save for retirement.
However, the CPF Ordinary Account (OA) only pays an interest rate of 2,5%, which can be tough to keep pace with inflation.
Hence, investors should look for suitable stocks to park their money in so that they can grow their CPF savings at a quicker rate.
In comes the CPF Investment Account (IA), a part of the CPF OA which allows you to invest some of your CPF funds into stocks and unit trusts.
We introduce three dependable Singapore stocks that can help you to effectively grow your CPF IA.
