Tiong Woon Corporation

Broker's Calls

UOB Kay Hian ups Tiong Woon’s TP to 90 cents as 1HFY2024 results beat expectations

Tiong Woon's earnings for the 1HFY2024 is at 57% of UOB Kay Hian's full-year estimates.

Results

Tiong Woon records 1HFY2024 earnings of $10.8 million, up 49% y-o-y

Revenue for the period grew 14% y-o-y to $75.3 million from increased contributions from the heavy lift and haulage segment.
Tiong Woon subsidiary awarded contract for Tuas integrated waste management facility project - THE EDGE SINGAPORE

Contracts

Tiong Woon subsidiary awarded contract for Tuas integrated waste management facility project

Tiong Woon expects the project to contribute positively to the revenue of the subsidiary for FY2024 and FY2025.

Company in the news

Tiong Woon eyes Thailand expansion with Mammoet Asia strategic alliance

Tiong Woon has also successfully acquired various construction equipment assets from Mammoet.
Crane operator Tiong Woon rides post-pandemic growth cycle - THE EDGE SINGAPORE

Company in the news

Crane operator Tiong Woon rides post-pandemic growth cycle

Tiong Woon is poised to hitch its business to the pent-up growth of the construction as well as oil and gas sectors.

Contracts

Tiong Woon wins contract for building of new manufacturing facility

The contract is expected to contribute positively to the group’s revenue for the FY2023 and FY2024.

Broker's Calls

UOB Kay Hian expects Tiong Woon Corp's FY2023 EPS to grow by 54%

CGS-CIMB, in an unrated report, thinks the company stands a good chance of taking part in the Hengyi project.
Tiong Woon Corporation wins contracts from Shell Eastern Petroleum and Shell Chemicals - THE EDGE SINGAPORE

Contracts

Tiong Woon Corporation wins contracts from Shell Eastern Petroleum and Shell Chemicals

The contract sums are not disclosed, due to the confidentiality of the agreements signed with Shell.
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