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BRC Asia: Higher public construction demand to boost steel reinforcement solutions provider

Jeffrey Tan
Jeffrey Tan1/17/2020 07:00 AM GMT+08  • 3 min read
BRC Asia: Higher public construction demand to boost steel reinforcement solutions provider
SINGAPORE (Jan 17): When The Edge Singapore covered BRC Asia in October last year, the steel reinforcement solu­tions provider traded at $1.36 or 9.2 times earnings. Since then, the stock has climbed rapidly. On Jan 15, the stock closed up at $1.67 or 12
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SINGAPORE (Jan 17): When The Edge Singapore covered BRC Asia in October last year, the steel reinforcement solu­tions provider traded at $1.36 or 9.2 times earnings. Since then, the stock has climbed rapidly. On Jan 15, the stock closed up at $1.67 or 12.3 times earn­ings, chalking up a year-to-date gain of 9.9%.

According to the Building and Construc­tion Authority (BCA), the total construction demand is expected to remain strong in 2020, underpinned by sustained public sector con­struction demand. BCA has forecast the total construction demand to range between $28 billion and $33 billion this year.

This is a larger forecast compared to BCA’s 2019 forecast of between $27 billion to $32 billion. And if last year’s outperformance is anything to go by, the total construction de­mand for this year could again surpass BCA’s 2020 forecast.

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