Pan-United Corporation, Singapore’s leading ready-mix concrete supplier, has secured a major contract win worth $315m (S$430m) for the supply of ready-mix concrete to Changi Airport Terminal 5, according to a report by UOB Kay Hian. This contract, spanning five years, is expected to enhance the company’s earnings visibility and solidify its position as a key player in Singapore’s construction sector.
The Changi T5 contract is part of Pan-United’s robust project pipeline, which includes public housing, healthcare facilities, and MRT expansions. The company is leveraging its market leadership in low-carbon concrete and digitalisation to drive margin resilience. Its AiR Digital logistics platform, which optimises fleet productivity, has been instrumental in maintaining margins amidst rising costs.
Pan-United’s strategic investments, including a new batching plant at Jurong Port Integrated Construction Park, are set to bolster capacity and meet increasing demand. With a planned capital expenditure of $36m to $43m (S$50m to S$60m) in 2025, the company aims to enhance supply reliability and cost efficiency.
The company’s financial health remains strong, with a net cash position of $51m (S$69.8m) as of the first half of 2025. This financial stability allows Pan-United to fund expansion and continue rewarding shareholders, evidenced by a 43% increase in interim dividends.
Looking ahead, Pan-United is well-positioned to benefit from Singapore’s construction boom, driven by public sector infrastructure projects. The company’s focus on sustainable concrete solutions and operational efficiencies is expected to support continued growth and shareholder returns.
