Nonetheless, as the industry upcycle picks up and earnings improve, HG Metal has seen its share price gain 74.7% over the past year, closing at 62 cents on April 22. Back in 2020, during the industry downturn, HG Metal shares fell as low as 16 cents. “We think that the ongoing construction boom is a positive development not just for the steel industry, but also for the construction industry as a whole. We are hopeful that investor interest will extend to HG Metal as we engage the market,” says Ong Hwee Li, the company’s non-executive chairman, in an interview with The Edge Singapore.
The construction upswing in Singapore has boosted investor interest in the industry ecosystem, which includes not only contractors but also material suppliers. Several high-profile names that have consistently engaged the investment community, such as concrete provider Pan-United Corp and steel stockist BRC Asia, have already built a certain level of profile.
There are numerous other Singapore-listed players in this space as well. Steel supplier HG Metal Manufacturing (SGX:BTG
) , which has been in this business since 1971, has seen plenty of ups and downs over the decades — including changes in ownership. HG Metal, whose business spans sourcing to custom finishing, was listed back in 2002 but has been largely out of the limelight in recent years.
