May 9 - Singapore headquartered Tiong Woon Corporation Holding has issued its financial results for the nine months ending March 31, 2013.
The company has seen a 32 percent rise in revenue year-on-year to SGD145 million (USD118.1 million). Net profit for the 2013 trading period stood at SGD13.1 million (USD10.67 million) - in 2012 the Tiong Woon scored a SGD900,000 profit (USD732,780).
Tiong Woon attributed the gains to increased demand from the heavy lift and haulage, fabrication, engineering and trading segments.
Notably, Tiong Woon has seen demand for its Heavy Lift and Haulage services surge in the first nine months of 2013, resulting in revenue growth of 35 percent year-on-year to SGD110 million (USD89.5 million).
"Despite the prevailing economic uncertainties and competitive environment in which Tiong Woon operates, our financial results have shown that we have done well," commented Tiong Woon's group chairman and managing director, Ang Kah Hong.