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Pan-United Corporation Ltd. (SG:P52)
SGX:P52
Singapore Market

Pan-United Corporation Ltd. (P52) AI Stock Analysis

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Pan-United Corporation Ltd.

(SGX:P52)

Rating:76Outperform
Price Target:
S$1.00
▲(11.11%Upside)
Pan-United Corporation Ltd. achieves a solid overall score of 76, driven by strong financial performance and reasonable valuation metrics. The stock's technical indicators suggest bullish momentum, although overbought conditions may lead to a short-term pullback. The absence of earnings call data and significant corporate events means these factors were not considered in the scoring.
Positive Factors
Infrastructure Projects
PANU is a beneficiary of Singapore’s continued infrastructure upgrading.
Product Innovation
PANU began offering low-carbon concrete ahead of its Singapore peers and continues to invest in research & development to expand its range.
Negative Factors
Credit and Sales Risks
Downside risks include counterparty credit risks and a slowdown in project offtake volumes negatively impacting RMC sales and margins.
Revenue Performance
Slower-than-expected project take-off led to FY24 revenue and PATMI coming in below estimates.

Pan-United Corporation Ltd. (P52) vs. iShares MSCI Singapore ETF (EWS)

Pan-United Corporation Ltd. Business Overview & Revenue Model

Company DescriptionPan-United Corporation Ltd, an investment holding company, engages in the concrete and logistics businesses in Singapore, China, and internationally. The company operates in three segments: Concrete and Cement, Trading and Shipping, and Others. It supplies cement, granite, aggregates, ready-mix concrete, and slag, as well as refined petroleum products to construction industry. The company is also involved in trading raw materials, bulk shipping, and agency operations; and holding investments. In addition, it offers basic building materials for construction industry. Further, the company provides sustainable technology solutions and marketing services. Additionally, it is involved in the production of asphalt; building and repairing of roadways; and quarry operations, as well as the provision of software consultancy, information technology, and computer services. Pan-United Corporation Ltd was founded in 1958 and is headquartered in Singapore.
How the Company Makes MoneyPan-United Corporation Ltd. generates revenue through a diversified business model. The primary revenue stream comes from the sale of ready-mixed concrete, which is supplied to the construction and infrastructure sectors. The company's trading division contributes to its earnings by dealing in raw materials such as cement and aggregates. Additionally, Pan-United's shipping and logistics segment provides specialized transportation and distribution services, ensuring efficient delivery of materials. Strategic partnerships with regional players and investments in technology and sustainability initiatives further bolster its revenue streams by enhancing operational efficiency and market reach.

Pan-United Corporation Ltd. Financial Statement Overview

Summary
Pan-United Corporation Ltd. demonstrates strong financial health with notable revenue growth, robust cash flows, and a stable balance sheet. While the company shows strong profitability and cash generation, the drop in EBIT margin warrants attention. Overall, the company is well-positioned in the construction materials industry with sound financial management.
Income Statement
80
Positive
Pan-United Corporation Ltd. has shown strong revenue growth over the years with a 4.92% increase from 2023 to 2024. The company maintains a healthy gross profit margin, however, the EBIT margin decreased to 0% in 2024, indicating a potential concern in operational efficiency. The net profit margin improved, reflecting better profitability in 2024 due to increased net income.
Balance Sheet
75
Positive
The balance sheet reflects a solid equity position with an equity ratio of 53.10% in 2024. The debt-to-equity ratio has decreased slightly, indicating prudent financial management. The company shows an impressive return on equity of 15.39%, signaling effective use of shareholders' funds.
Cash Flow
85
Very Positive
Cash flow analysis highlights a robust free cash flow growth rate of 40.54% from 2023 to 2024. The operating cash flow to net income ratio is strong, indicating good cash generation relative to income. The free cash flow to net income ratio also improved, showing effective cash utilization.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.01B812.30M774.14M703.26M586.87M405.02M
Gross Profit171.57M175.76M80.83M132.70M127.04M84.83M
EBITDA89.06M78.97M68.68M52.22M42.40M28.78M
Net Income48.22M40.85M34.30M23.35M18.69M1.04M
Balance Sheet
Total Assets459.55M499.75M453.88M421.36M396.69M402.31M
Cash, Cash Equivalents and Short-Term Investments95.51M107.01M64.37M64.65M64.15M67.56M
Total Debt54.91M56.09M57.17M69.01M66.00M103.61M
Total Liabilities213.55M228.83M216.32M202.96M183.22M199.31M
Stockholders Equity240.60M265.30M231.82M211.42M205.07M194.69M
Cash Flow
Free Cash Flow98.65M69.38M49.36M5.00M48.77M51.67M
Operating Cash Flow114.38M87.98M61.27M20.64M57.54M59.61M
Investing Cash Flow-12.50M-14.73M-7.62M-9.40M-4.02M-7.75M
Financing Cash Flow-74.75M-31.50M-53.02M-9.33M-57.33M-33.64M

Pan-United Corporation Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.90
Price Trends
50DMA
0.76
Positive
100DMA
0.68
Positive
200DMA
0.61
Positive
Market Momentum
MACD
0.04
Negative
RSI
72.94
Negative
STOCH
80.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:P52, the sentiment is Positive. The current price of 0.9 is above the 20-day moving average (MA) of 0.82, above the 50-day MA of 0.76, and above the 200-day MA of 0.61, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 72.94 is Negative, neither overbought nor oversold. The STOCH value of 80.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:P52.

Pan-United Corporation Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (58)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
SGP52
76
Outperform
S$619.29M15.1316.44%3.16%4.93%12.48%
58
Neutral
HK$16.77B4.60-5.52%5.25%-3.57%-61.41%
SGBTG
S$103.03M7.126.96%
SGKUO
S$110.31M17.000.82%
SGN02
S$272.70M12.837.50%57.53%
SGQNS
S$205.38M-6.06%
SGS44
S$96.74M88.590.42%3.68%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:P52
Pan-United Corporation Ltd.
0.90
0.39
76.47%
SG:BTG
HG Metal Manufacturing Limited
0.37
0.06
19.35%
SG:KUO
International Cement Group Ltd.
0.02
0.00
0.00%
SG:N02
NSL ltd.
0.74
0.10
15.62%
SG:QNS
Southern Alliance Mining Ltd.
0.50
0.04
8.70%
SG:S44
EnGro Corp. Ltd. (Singapore)
0.82
0.14
20.59%

Pan-United Corporation Ltd. Corporate Events

Pan-United Corporation Ltd Holds 33rd Annual General Meeting
May 16, 2025

Pan-United Corporation Ltd held its 33rd Annual General Meeting at the Suntec Singapore Convention and Exhibition Centre, where Executive Chairman Ms. Ng Bee Bee expressed gratitude to shareholders for their continued support. The meeting marked the first address by Mr. Ken Loh as CEO, who provided a business performance summary to the shareholders. The AGM proceeded without any pre-submitted questions from shareholders, but a Q&A session was opened during the meeting to address any substantial and relevant queries.

The most recent analyst rating on (SG:P52) stock is a Buy with a S$0.68 price target. To see the full list of analyst forecasts on Pan-United Corporation Ltd. stock, see the SG:P52 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 01, 2025