Tiong Woon Corporation, which owns and sells construction cranes, has turned in a record S$22.5 million profit for the full year to June. Its earnings were one and a half times better than last year.
Revenue reached nearly S$100 million, up 44 percent on-year due to contributions from all its business segments. They are heavy lift and haulage, marine transportation and trading.
Tiong Woon says it plans to pursue business opportunities in China, Thailand, Malaysia, Indonesia, Vietnam and the Middle East. Saudi Arabia will continue to be one of the company's key markets and will form an integral part of its Middle-East strategy. Tiong Woon plans to use Saudi Arabia has a springboard into the region.
Revenue reached nearly S$100 million, up 44 percent on-year due to contributions from all its business segments. They are heavy lift and haulage, marine transportation and trading.
Tiong Woon says it plans to pursue business opportunities in China, Thailand, Malaysia, Indonesia, Vietnam and the Middle East. Saudi Arabia will continue to be one of the company's key markets and will form an integral part of its Middle-East strategy. Tiong Woon plans to use Saudi Arabia has a springboard into the region.