- As an integrated construction service provider providing excavation and demolition services, we believe Reclaims Global (SGX:NEX) is a beneficiary of the construction upcycle in Singapore over the next few years. Demand is likely to remain strong with BCA forecasting S$47bln-53bln in construction contracts for 2026, similar to the robust 2025.
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Re-rating catalysts
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- potential upward revisions in consensus earnings forecasts and target prices post full year earnings release in March’26;
- better than expected final dividend payout due to better than expected profitability as well as robust net cash balance sheet and upbeat business outlook;
- the upcoming EGM in March’26 to approve the 1 for 1 bonus issue which will help to improve the trading liquidity of the stock while also entitling shareholders who hold onto the bonus shares to higher dividends as the bonus shares will also be entitled to the final dividend payout in April/May’26.
Established market position in Singapore.
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