YTL, with six decades of operating history, has built an "entrenched" market position and a visible order pipeline tied to residential construction demand.
Dale Lai of DBS Group Research has kept his "buy" call and $3.90 target price on Hong Leong Asia after its $90.7 million all-cash acquisition of privately-held Yong Tai Loong, which builds bomb shelters, letter boxes, door frames, clothes racks and other residential fittings.
The acquisition, says Lai in his April 22 note, is strategically aligned with HLA’s aim of strengthening its building materials segment in Singapore.
