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Tiong Woon revenues surge as it installs splitter giant

February 7 - Tiong Woon Corporation Holding posted revenues of SGD99.7 million (USD80.5 million) for the first half of fiscal year 2013, ending December 31 2012, up 34 percent year-on-year.

Tiong Woon saw its net profit for the period surge 479 percent year-over-year to SGD8 million (USD6.45). Gross profit at the heavy haulage specialist rose by 55 percent to SGD27.5 million (USD21.6).

The company stated that the main contributor to its total revenue improvement was from its heavy lift and haulage division, which saw a 38 percent year-on-year improvement over the same trading period of 2012, to SGD74.5 million (USD58.4).

Ang Kah Hong, Tiong Woon's group chairman and managing director noted: "Although the current global economic climate remains challenging, there are areas of growth in the region in the sectors where we operate such as oil and gas, petrochemical, power and construction industries."

Only today, Tiong Woon successfully completed the ro-ro, haulage and lifting of a 1,147 tonne, 108 m tall xylene splitter column for EPC contractor SK E&C, to be deployed at Jurong Aromatics Corporation's complex in Singapore.

Tiong Woon was tasked with installing the column, which required the design and construction of a temporary ro-ro jetty on Jurong Island; as well as temporary road works and modification for the transportation of the superstructure.

Heavy Lift | News

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