Hiap Teck buoyed by recovery in the steel industry

HLIB Research said the company's management has turned more upbeat on its near-term earnings prospects.

PETALING JAYA: There is renewed optimism for Hiap Teck Venture Bhd, buoyed by signs of recovery in the steel industry and improving demand drivers in the construction sector.

Hong Leong Investment Bank (HLIB) Research has maintained a “buy” call with a higher target price of 36 sen, citing stronger earnings visibility and an attractive valuation base.