GKE Corp.'s China RMC Business Looks Lackluster -- Market Talk

Dow Jones01-19

0738 GMT - GKE Corp.'s China ready-mix concrete business is looking lackluster, CGS-CIMB analysts say in a research report. Revenue was flat on year in 1H FY 2024 as construction activities in Wuzhou, China, showed little improvement, they note. The Singapore-listed warehousing and logistics solutions provider said building activity levels in China have seen little growth year to date, reinforcing CGS-CIMB's view that RMC volume recovery in FY 2024 is likely to be bumpy. CGS-CIMB lifts the stock's target to S$0.080 from S$0.076 to reflect a rolling forward of its valuation base year, while maintaining a hold rating. Shares are 1.5% higher at S$0.069. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 19, 2024 02:42 ET (07:42 GMT)

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CGS-CIMB lifts the stock's target to S$0.080 from S$0.076 to reflect a rolling forward of its valuation base year, while maintaining a hold rating. Shares are 1.5% higher at S$0.069. 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