The company generates its revenue mainly from its concrete and cement segment where it supplies cement, ready-mix concrete (RMC) and other aggregates, which form 98% of its overall topline.
UOB Kay Hian (UOBKH) analysts Llelleythan Tan and Heidi Mo have initiated a “buy” call on Pan-United Corporation as they see the company being a market leader with concrete growth prospects.
“With an around 40% domestic market share, Pan-United Corporation is a market leader in cement and concrete supply providing a diverse range of concrete types, and boasts an industry-leading position in low-carbon concrete technologies,” note Tan and Mo in their June 19 report.
