- 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 the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Terence Chua Phillip Securities Research | https://www.stocksbnb.com/ 2022-12-12
Read also Phillip's most recent report:
2024-02-13 Pan-United Corp - Tailwinds From Construction Demand, Low-Carbon Solutions.
Previous report by Phillip:
2023-08-14 Pan United - Volume Catches Up; Surprise Margin Improvement.
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 Dividends & Corporate Actions,
Pan United News Articles
