Building materials turnaround marks new direction for Hong Leong Asia
CEO Tan Eng Kwee is excited about how performance of building materials supply business is shifting HLA's bottom line.
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SIZE matters a lot in the building industry, and Hong Leong Asia (HLA), a leading supplier of ready-mixed and precast concrete to Singapore's construction industry, could strengthen its lead if Covid-19 accelerates consolidation in the market, chief executive Tan Eng Kwee believes.
Mr Tan told The Business Times last week: "Any prolonged (work) stoppages from Covid-19 or arising from Malaysia's movement control order will cause cash drain to players, so size matters."
HLA is the industrial manufacturing and distribution division of Singapore's Hong Leong Group.
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