BRC Asia, which is a-fifth held by HLA, controls a market share between 55-60% market share in Singapore and is a "prime beneficiary" of Singapore's rising construction activity.
Adrian Loh of UOB Kay Hian has kept his "buy" call and raised his target price for Hong Leong Asia from $2.63 to $2.82, on multiple growth drivers pertaining to its various business units.
Loh's colleague Heidi Mo had just on Sept 5 raised its target price for steel supplier, BRC Asia from $3.29 to $4.69.
