THE following companies saw new developments that may affect trading of their securities on Wednesday (Nov 30):

STEEL-solutions provider BRC Asia posted an 81 per cent rise in its net profit to S$50.4 million for its second half ended Sep 30, 2022, from S$27.9 million a year ago.

BRC Asia has reported record earnings of $90.2 million for the financial year ended Sept, up 92% from the preceding FY2021.Revenue in the same period was up 45% to $1.7 billion – a record as well -- thanks to higher steel prices and higher sales volume.The company plans to pay a final dividend of ...

UOB Kay Hian has added Thai Beverage (ThaiBev) and ComfortDelGro (CDG) to its alpha picks portfolio for the month of October.“Both are set to benefit from demand recovery from the economic reopening and removal of Covid-19 measures, and the recent share price weaknesses have made their valuation m...

CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan have kept an “overweight” rating on the building materials sector in Singapore, as the labour situation within the sector shows improvement.Employment in the construction sector rose 14% y-o-y in 2Q2022, forming approximately 99% of end-...

The recovery of the local construction sector, following major stoppages during the pandemic, has helped lift the earnings of not just contractors, but also upstream companies, like those who supply building materials. Two pure-play building materials stocks, BRC Asia and Pan-United Corp, have alrea...

UOB Kay Hian analysts Llelleythan Tan and John Cheong have maintained their “buy” call on BRC Asia as the company posted robust results for the 3QFY2022 ended June.They have, however, lowered their target price to $2.00 from $2.15 previously. The new target price is based on the same 0.7x FY2022...

Phillip Securities analyst Terence Chua has kept his “buy” call and $2.26 target price on BRC Asia, following the steel supplier’s 9MFY2022 earnings for the period ended June that met his expectations.Chua’s target price is pegged to 8x FY2022 earnings estimates.On Aug 2, the company reporte...

UOB Kay Hian has added Sembcorp Industries and BRC Asia to its alpha picks portfolio for the month of August.The team’s portfolio outperformed the Straits Times Index (STI) in July, increasing by 5.4% on a market cap weighted basis versus the market’s 3.5% increase.Six stocks in UOB Kay Hian’s...

THE following companies saw new developments that may affect trading of their securities on Wednesday (Aug 3):

Steel supplier BRC Asia has reported earnings of $20.4 million for its 3QFY2022 ended June 30, bringing its 9MFY2022 earnings to $60.2 million.Revenue for 3QFY2022 was $515.3 million, and $1.31 billion for 9MFY2022, the company says, in a voluntary business update on Aug 2.For the same quarter last ...

STEEL-solutions provider BRC Asia recorded a S$20.4 million net profit for Q3 ended Jun 30, 2022, double its S$10.2 million net profit in the year before.

Maintaining the barbell approach recommended by analysts is proving heavy this year.Singapore investors not only have to contend with new waves of Covid-19 in July, as warned by health minister Ong Ye Kung, but also consider a host of worries abroad.RHB Group Research analyst Shekhar Jaiswal lists t...

DBS Group Research has initiated “buy” on BRC Asia Limited with a target price of $2.40.The target price is based on a one year forward P/E of 8.2x, representing a discount of 15% to the company’s five-year historical mean, in view of the current global economic uncertainties, writes analyst L...

BRC Asia will likely be a key beneficiary of a construction sector recovery, noted DBS Group Research as it initiated coverage on the steel reinforcement solutions provider with a “buy” call and a target price of S$2.40.