Pan-United's Growth Underpinned by Airport Terminal Contract -- Market Talk

Dow Jones
2025/09/15

0256 GMT - Pan-United's growth is underpinned by a major contract to supply concrete for an expansion of Changi Airport in Singapore, UOB Kay Hian's Heidi Mo says in a report. The Singapore-listed company has secured S$430 million of ready-mix concrete supply contracts for the airport's planned terminal 5 project that will span five years, the analyst says. This enhances Pan-United's earnings visibility and reflects its ability to win major infrastructure projects, the analyst says. To capture rising demand, Pan-United is investing heavily in capacity, with capital expenditure of around S$50 million-S$60 million planned in 2025. The brokerage raises its target price on the stock to S$1.33 from S$1.06, with an unchanged buy rating. Shares are 1.6% higher at S$1.26. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

September 14, 2025 22:56 ET (02:56 GMT)

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