Construction recovery paves the way for Singapore-listed concrete, steel producers

INVESTOR interest is building for locally listed construction material manufacturers, as they ride on a ramp-up in construction activity in Singapore.

Peggy Mak, research manager at Phillip Securities Research, noted that some of the market leaders in the construction material space – such as ready-mix concrete producer Pan-United Corporation and steel manufacturing and solutions provider BRC Asia – have benefited from an increase in construction activity since May last year.

She estimated that Pan-United has about a 40 per cent local market share in ready-mix concrete, while BRC Asia has about an 80 per cent local market share in steel rebars.

For its second half ended Dec 31, Pan-United’s…