Business

Bloomberg

(Bloomberg) — Lim Hock Chee and his wife used to sell chilled pork at a rented stall in a grocery store.Now, after more than 35 years, his family operates 61 supermarkets across Singapore and has joined the ranks of billionaires.Shares of their Sheng Siong Group Ltd., which competes with Amazon.com Inc. in the city-state, rose to a record Wednesday as supermarkets have become the preferred place to shop after the government imposed a partial lockdown to contain the coronavirus pandemic. The stock has rallied more than 30% since a March 19 closing low.The family’s combined fortune, based on their 57% stake in the retailer held mainly by Lim and his two brothers, has surged to $1.1 billion, according to the Bloomberg Billionaires

Read More At Article Source | Article Attribution