BRC Asia

BRC Asia offers 42 cents per share for all Lee Metal shares
SINGAPORE (Feb 21): BRC Asia is making a voluntary conditional cash offer of 42 cents a share for all the issued shares in Lee Metal Group. The offer price represents a 2.4% premium over Lee Metal’s last traded price of 41 cents on Tuesday. It is also a 32.9% premium above the volume weighted average price (VWAP) for the 12-month period prior to Lee Metal’s last undisturbed trading day ...
BRC Asia reports 36% rise in 1Q earnings to $2.6 mil on higher sales
SINGAPORE (Feb 8): BRC Asia, the provider of steel reinforcement solutions in Singapore, reported a 36% rise in 1Q earnings to $2.6 million from $1.9 million a year ago on higher sales. Revenue rose 26% to $100.9 million from $80 million. Cost of sales increased 25% two $93.3 million. Gross profits increased 44% to $7.6 million while gross profit margin increased to 7.5% from 6.6%. Although ...
BRC Asia to resume trading of shares from Dec 1 after restoring free float
SINGAPORE (Nov 30): BRC Asia, the steel prefabrication firm, will resume trading of its shares with effect from 9am on Dec 1. Trading in its shares had been suspended on Oct 31 after a takeover bid by Esteel Enterprise ended with Esteel holding a 95.83% in the firm. To restore the 10% free float required under the listing rules of the Singapore Exchange, Esteel subsequently disposed a total ...
BRC Asia posts 75% drop in full-year earnings to $2.1 mil
SINGAPORE (Nov 29): Prefabricated steel reinforcement specialist BRC Asia saw its earnings tumble 75% to $2.1 million for the full year ended September, down from $8.3 million a year ago. Revenue fell 10% to $311.6 million in FY17, from $346.8 million a year ago, despite higher selling prices. This was due to lower volume of steel delivered as a result of weaker construction demand. Gross ...
HG Metal proposes cash distribution from stake sale in BRC Asia and capital reduction exercise
SINGAPORE (Sept 25): HG Metal is proposing a capital reduction exercise to write off accumulated losses as well as a cash distribution to return to shareholders surplus capital from the sale of its BRC Asia stake. On Sept 9, HG Metal had entered into a conditional agreement with Esteel Enterprise for the disposal of all 42.1 million BRC Asia shares held by the company at $0.925 each for nearly ...
HG Metals says it conducts regular reviews, but no approach yet for its stake in BRC Asia
SINGAPORE (June 2): Steel manufacturer HG Metal Manufacturing confirmed it has received a letter from Switzerland-based activist fund manager Quarz Capital Management. In a filing on Thursday night, HG Metal says it “conducts regular reviews of the strategic options of the group from time to time [and that] certain issues raised in the Quarz letter have also been considered by the board in ...
BRC Asia earnings plunge 46% in FY16
SINGAPORE (Nov 24): Prefabricated steel reinforcement specialist, BRC Asia, has reported earnings of $8.3 million for FY16, a 46% decrease from the $15.4 million earnings seen in FY15. For the year to September, revenue fell 10% to $346.8 million from lower unit selling prices which resulted from increased competition and lower steel prices, despite a higher volume of sales. Gross margins ...