At this level, the demand for this key building material - in which Pan-United is the largest supplier in town with a market share of around 40%- is tracking the upper range of the full year forecast of 15 to 16 million tonnes.
Pan-United Corp's share price has dropped more than 10% from its recent peak of $1.73 more than a fortnight ago but Natalie Ong of CGS International has not only maintained her positive view on this stock, she has also raised her target price from $1.55 to $1.85, citing the company's strong balance sheet amid bustling construction activity.
In the first quarter of the year, demand for ready-mixed concrete was up 29% y-o-y to 4 million cubic metres, according to the Building and Construction Authority.
