Hong Leong Asia - UOB Kay Hian 2025-09-15: Forged In Steel, Powered By Diesel Dreams

• We recently upgraded Hong Leong Asia's 20% associate BRC Asia to BUY with a target price of S$4.69 as it is a key beneficiary of Singapore's construction activity (see report).
• - Read this at SGinvestors.io -

Dominant player in Singapore steel market and expanding regionally.

• - Read this at SGinvestors.io -
• Additionally, BRC Asia recently acquired a 55% stake in Southern Steel Mesh, which has a 60% market share in Malaysia for welded wire mesh and also supplies reinforcement products to domestic and regional markets. In our view, the acquisition provides BRC Asia with a strategic foothold into Malaysia, diversifies its revenue and enhances its scale in Southeast Asia.

China Yuchai International – outperforming its larger peer in China.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Previous report by UOB:
2025-08-18 Hong Leong Asia - Engine-led Strength Offsets Temporary Building Materials Weakness In 1H25.

Price targets by 3 other brokers at Hong Leong Asia Target Prices.

Listing of research reports at Hong Leong Asia Analyst Reports.

Relevant links:
Hong Leong Asia Share Price History,
Hong Leong Asia Announcements,
Hong Leong Asia Dividend Payout Dates & Corporate Actions,
Hong Leong Asia News