Hong Leong Asia - UOB Kay Hian 2026-04-22: Knocking On The Right Door: A Defensive Bolt-on Acquisition

• Hong Leong Asia announced that it has acquired Yong Tai Loong (YTL), a privately-owned 60+ year-old architectural building products company, for S$90.7m in cash.
• - Read this at SGinvestors.io -
• YTL has over 100 construction company clients, two manufacturing facilities in Singapore, and importantly its status as one of only five HDB-approved household shelter suppliers makes this a high-quality, defensible business, in our view.

Attractively priced acquisition at 4.3x P/E.

• Hong Leong Asia’s acquisition price of S$90.7m for a company that made S$21.1m (before one-off items) implies an acquisition P/E of 4.3x which we view as attractive, and may suggest that the headline price conservatively values the growth pipeline.
• - Read this at SGinvestors.io -

Industry tailwinds remain powerful and durable.

• 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:
2026-01-29 Hong Leong Asia - IPO For A High-growth Subsidiary With DC and AI Exposure.

Price targets by 2 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