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...

CGS-CIMB on Wednesday (Aug 24) raised its target price on Hong Leong group’s trade and industry arm, Hong Leong Asia, in anticipation of better prospects amidst a construction recovery in Singapore, which will offest weaknesses in its diesel engine segment.

CGS-CIMB analyst Ong Khang Chuen has maintained his “add” call for China Yuchai International with a reduced target price (TP) of US$13.60 ($18.98), down from his previous target of US$15.80.China Yuchai is a subsidiary of SGX-listed Hong Leong Asia.Ong’s lower TP comes off the back of China Y...

The strong recovery in Hong Leong Asia’s building materials (BMU) segment cushioned the trading and manufacturing company’s results in 1HFY2022 ended June, say CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan.Profit before tax from the BMU segment surged 141% y-o-y to $33.6 million. Th...

AS the construction industry recovers from its Covid-induced slumber, industrial conglomerate Hong Leong Asia (HLA) expects continued growth in its building materials business.

INDUSTRIAL conglomerate Hong Leong Asia’s net profit rose 4.5 per cent year on year to S$42.6 million for the first fiscal half ending Jun 30, up from S$40.7 million in the year-ago period.

Hong Leong Asia, the listed trading and manufacturing arm of the Hong Leong Group, has announced earnings of $42.6 million for the 1HFY2022 ended June, 4.5% higher y-o-y.However, revenue for the same period fell by 26.1% y-o-y to $2.10 billion due to the lower revenue recorded by its diesel engines ...

FOR the 5 trading sessions that spanned Mar 4 to 10, the Straits Times Index (STI) declined 0.4 per cent, with the FTSE China A50 Index falling 5.6 per cent, the Hang Seng Index dropping 6.7 per cent and the FTSE Bursa Malaysia KLCI slipping 2.2 per cent.

FOR the 5 trading sessions that spanned Mar 4 to 10, the Straits Times Index (STI) declined 0.4 per cent, with the FTSE China A50 Index falling 5.6 per cent, the Hang Seng Index dropping 6.7 per cent and the FTSE Bursa Malaysia KLCI slipping 2.2 per cent.

CGS-CIMB Research analyst Ong Khang Chuen has maintained his “add” rating on Hong Leong Asia after the group reported its results for the 2HFY2021 and FY2021 ended December on Feb 25. In his report dated March 8, Ong has lowered his target price to $1 from $1.05 before. “We believe the worst...

HONG Leong Asia's net profit fell 26 per cent year on year to S$19.4 million for the half year ended Dec 31, 2021, as its engine-making unit Yuchai faced a 21 per cent drop in sales volumes to 171,449 units due to lower truck engine sales.

Steel supplier BRC Asia has reported earnings of $47 million for the financial year ended Sept 30, up 131% y-o-y. Revenue in the same period was up by 91% y-o-y to $1,17 billion, thanks to higher sales volume with the pick-up in construction activities, coupled with higher selling prices in tandem w...

THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 21):

THE following companies saw new developments that may affect trading of their securities on Friday:

UOB Kay Hian analyst Llelleythan Tan has maintained his buy call on BRC Asia, but has lowered his target price from $2 to $1.76. In a Sept 23 report, Tan said that being the market leader in the supply of steel products in Singapore, BRC is set to benefit from the recovery in the construction sector...