0325 GMT - Pan-United Corp. appears to be a key beneficiary of Singapore's healthy construction demand, due to a significant exposure to public infrastructure projects, say CGS International analysts. Such projects tend to require larger proportions of specialized-grade concrete, which have higher average selling prices and margins, they write in a note. Key projects include Changi Airport Terminal 5, Tuas Port, various rail projects and a ramp-up in Build-To-Order public flat supply, they say. CGS International expects 2025 earnings before interest, taxes, depreciation, and amortization margin to remain high at around 9.3%. It maintains an add rating on the stock and a target price of S$0.75. Shares are at S$0.62.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 06, 2025 22:25 ET (03:25 GMT)
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