November 2 - Tiong Woon Corporation Holding Ltd has signed contracts in Burma (Myanmar) and Malaysia to supply heavy equipment and marine transportation for oil and gas-related projects.
This marks the Group's first foray into the former and, says chairman and managing director, Ang Kah Hong, has prompted the company into planning the set up of a representative office there in order to investigate and secure new business opportunities there.
The project in Malaysia is contracted through Tiong Woon's wholly-owned subsidiary, Tiong Woon Crane & Transport (M) Sdn Bhd, with Malaysia Marine and Heavy Engineering Sdn Bhd. The contract relates to an offshore fabricator project located in Pasir Gudang in Malaysia.
The Burma (Myanmar) contract was signed between Tiong Woon's wholly-owned subsidiary, Tiong Woon Crane Pte Ltd and an India-based conglomerate that provides integrated design, engineering, procurement, construction and project management services in the energy and infrastructure sectors globally. The contract relates to a pipeline-laying project located in Myanmar, and the deal will see Tiong Woon supplying cranes as well as providing marine transportation.
Both contracts will run for at least a year, and work is scheduled to start by the end of 2011.
TWC is an integrated services provider for the oil and gas and petrochemicals industries and specialises in heavy lift and installation of process equipment.
Mr Ang said: "We are delighted and thrilled by these business opportunities before us. We will be capitalising on our strengths in heavy lift and haulage. As for Myanmar, it is a new frontier for us, and we are excited to start prospecting for possibilities there.
"Despite the current global economic sentiment, we are still attending to lots of enquiries and are participating in a number of tenders, here and overseas," he added.