Transformative Growth, Infrastructure Upside & 2025 Outlook 1510 – Minichart
Broker Name: KGI Securities (Singapore) Pte. Ltd.
Date of Report: December 17, 2025
Excerpt from KGI Securities (Singapore) report.
Report Summary
- Ever Glory United Holdings Ltd (EGUH) has rapidly transformed from a mid-sized M&E contractor into a leading, integrated engineering group through strategic acquisitions, notably Fire-Guard Engineering (2024) and Guthrie Engineering (2025). These moves have expanded its technical capabilities, licensing, and orderbook, enabling competition for Singapore’s largest infrastructure projects.
- The company is well-positioned to benefit from Singapore’s infrastructure super-cycle, with construction demand projected at S\$47-53bn in 2025. Ever Glory’s orderbook exceeds S\$500mn…
