BRC Asia Limited (SGX:BEC) is one of the companies that were badly affected by the Covid-19 pandemic.
BRC Asia (SGX:BEC) is Singapore’s leading reinforcement bar(rebar) and welded mesh supplier. They command the largest market share for both rebar and mesh with 40-60% and 50-70% market share.
During the last quarter, their revenue dropped 83% yoy and reported a loss for the period. This is due to the 2 month nationwide circuit breaker and the subsequent snail-like pace of the restart of construction activity.
With the construction industry just starting to pick up the pace, BRC Asia will be able to resume their production at full swing in the coming weeks. However, we must be realistic with their short term prospects and look for its potential looking beyond FY2020.