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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