Latest news from Heavy Lift & Project Forwarding International Magazine

Tiong Woon sees strong start to FY 2014

November 6 - Singapore headquartered Tiong Woon Corporation has released strong results for the three months ended September 2013 (Q1 2014), with turnover rising 3 percent year-on-year over Q1 2013 to USD35.9 million and gross profit jumping 30 percent to

Turnover from the group's Heavy Lift and Haulage division rose by 6 percent year-on-year to S$36 million, contributing 81 percent of its group revenue and 94 percent of the company's profit before tax. The rise was attributed to an increase in demand for its heavy lift and haulage services in the Asia Pacific region.
 
Tiong Woon's Marine Transport division saw revenue increase by 13 percent to USD2.82 million year-over-year in Q1 2014, resulting from greater integration with the Heavy Lift and Haulage division. Its Engineering Services division, however, reported a turnover decrease of 56 percent to USD1.45 million, due to completion of the Tuaspring Desalination project and a lower percentage of completion of Tuas New Yard Phase 1 project.
 
"I am happy with our ability to achieve good financial performance despite the challenging business environment marked by rising labour costs and economic uncertainties," said Ang Kah Hong, Tiong Woon's executive chairman and managing director. "As the Singapore economy restructures for its next phase of growth, improving on productivity will be a key concern of every company. In this regard, it is noteworthy that Tiong Woon maintains its competitive edge by continuously making incremental improvements to its productivity."

www.tiongwoon.com

Heavy Lift | News

USA ends steel and aluminium tariffs on Canada and Mexico thumbnail image

USA ends steel and aluminium tariffs on Canada and Mexico

May 24 - The USA is removing steel and aluminium tariffs imposed on Canada and Mexico under Section 232 of the Trade Expansion Act of 1962, with all retaliatory tariffs on US goods and any pending litigation also coming to an end.
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Maxim names duo for Pacific Northwest thumbnail image

Maxim names duo for Pacific Northwest

May 24 - Maxim Crane Works has appointed Travis Wilt and Alex Clark to lead the expansion of its services in the Pacific Northwest region of North America. 
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PPG restructures training course thumbnail image

PPG restructures training course

May 24 - The Project Professionals Group (PPG) has restructured its project cargo forwarding training course into a one-day format.
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