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Continue to 'add' BRC Asia on recovery in construction sector, says CGS-CIMB

Atiqah Mokhtar
Atiqah Mokhtar3/11/2021 2:2 PM GMT+08  • 2 min read
Continue to 'add' BRC Asia on recovery in construction sector, says CGS-CIMB
CGS-CIMB says BRC Asia is on track to double FY21 net profit to a record high of $40 mil.
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BRC Asia is on track to double net profit in FY2021 to a record high of $40 million, says CGS-CIMB Research.

Analyst Ong Khang Chuen has maintained his ‘add’ rating for the company with an unchanged target price of $1.90 on the back of construction activities in Singapore which have continued to recover.

“Construction activities have returned to circa 75% of pre-Covid-19 levels,” he writes in a research note dated March 10.

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