Construction Output to Hit Upper Range of $34-37b in FY24
Construction Output to Hit Upper Range of $34-37b in FY24
Meanwhile, CGSI noted BRC's robust performance in its 2HFY9/24 report, citing higher-than-expected dividends of 14 Singapore cents, which brought the FY24 total DPS to 20 cents, up from 16 cents in FY23.Contract awards saw significant growth, with 3Q24 and 9M24 wins up 55% and 34% YoY, respectively.
合同授予顯著增長，2024年第三季度和2024年前九個月的獲勝額分別同比增長了55%和34%。
Construction output in FY24 is expected to reach the upper end of the Building and Construction Authority's (BCA) forecast of $34b to $37b, CGS International (CGSI) said.
中國銀河國際(CGSI)表示，2024財年的施工產出預計將達到建築與施工管理局(BCA)預測的340億至370億的上限。
It said Singapore's construction landscape remains robust, with construction output rising 8% YoY for the first nine months of 2024, driven by a strong pipeline of public sector projects.
該公司表示，新加坡的施工環境依然穩健，2024年前九個月的施工產出同比增長8%，這得益於公共部門項目的強大管道。
Meanwhile, CGSI noted BRC's robust performance in its 2HFY9/24 report, citing higher-than-expected dividends of 14 Singapore cents, which brought the FY24 total DPS to 20 cents, up from 16 cents in FY23.
與此同時，中國銀河國際指出，在其2024財年9月報告中，BRC表現強勁，分紅派息達到14新加坡分，高於預期，使2024財年的總每股分紅派息(DPS)上升至20分，相較於2023財年的16分。
While offtake volumes were slower than expected due to engineering and architectural bottlenecks, CGSI said underlying construction demand remained strong as of November 2024.
儘管由於工程和建築瓶頸，實際成交量比預期緩慢，中國銀河國際表示到2024年11月，基本施工需求依然強勁。
It also observed significant growth in contract awards, with 3Q24 and 9M24 wins up 55% and 34% YoY, respectively.
它還觀察到合同授予顯著增長，2024年第三季度和前九個月的合同獲勝情況分別同比增長55%和34%。
Looking ahead, CGSI anticipates the 2025 project pipeline to be bolstered by mega-infrastructure projects like Changi Airport Terminal 5, Tuas Mega Port, expanded public housing supply, and rail projects such as the Cross Island Line.
展望未來，中國銀河國際預計2025年的項目管道將受到諸如樟宜機場五號航站樓、圖阿斯超級港、擴大公共住房供應及橫島線等大型製造行業項目的推動。
On M&A opportunities, CGSI highlighted that BRC and Pan-United (PanU) have significantly strengthened their balance sheets through deleveraging, creating room for potential acquisitions.
關於併購機會，中國銀河國際強調，BRC和泛聯(PanU)通過去槓桿顯著增強了其資產負債表，爲潛在收購創造了空間。
CGSI maintains a positive outlook on BRC, highlighting its attractive FY25F dividend yield of 8.2% and a reasonable valuation of 8.5x CY25F P/E.
中國銀河對BRC持樂觀態度，強調其2025財年的吸引人分紅派息收益率爲8.2%，以及合理的2025年市盈率爲8.5倍。
譯文內容由第三人軟體翻譯。
