Pan United Corporation - Phillip Securities 2022-12-12: Construction Recovery Slower Than Expected

Pan United Corporation - Construction Recovery Slower Than Expected

Published:
PAN-UNITED CORPORATION LTD (SGX:P52) | SGinvestors.ioPAN-UNITED CORPORATION LTD (SGX:P52)
  • Workplace incidents hampered the recovery. As a result of the Heightened Safety period imposed by the Ministry of Manpower (MOM), local construction projects are, in general, progressing slower than expected. 2022-to-date contracts awarded is down 9.4% y-o-y.
  • According to data from the Building and Construction Authority (BCA), demand for ready-mixed concrete (RMC) for the first 9 months of 2022 was ~8.8mil cu/m, about 8% lower than our estimate and up 14.2% y-o-y.
  • - Read this at SGinvestors.io -

What's new for Pan United

  • - Read this at SGinvestors.io -
  • No results update from Pan United as it has moved to half-yearly reporting.

The Positives

Construction progress payments for first 9 months of 2022 rose 14.2% y-o-y.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.



Terence Chua Phillip Securities Research | https://www.stocksbnb.com/ 2022-12-12



Read also Phillip's most recent report:
2025-02-28 Pan-United Corporation - Still Optimistic Despite Slower Project Take-off.

Previous report by Phillip:
2024-08-05 Pan-United - De-carbonising Drives Up Profits.

Price targets by other brokers at Pan United Target Prices.

Listing of research reports at Pan United Analyst Reports.

Relevant links:
Pan United Share Price History,
Pan United Announcements,
Pan United Dividend Payout Dates & Corporate Actions,
Pan United News






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