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Could someone advise why the price keeps falling?
One-stop integrated heavy-lifting service provider. Tiong Woon Corporation (TWC) is one
of the leading one-stop integrated service providers in heavy lifts, heavy haulage, marine
transportation and equipment installation works operating in numerous countries in the Asia
Pacific region. TWC currently owns more than 300 cranes and transport equipment,
including various types of cranes, crawlers, hydraulic trucks etc with capacities ranging from
20-1250 tonnes. TWC was ranked the 11th largest crane owning company worldwide by
International Cranes, a reputed trade magazine, in its 2007 IC50 survey.
Heavy lift and haulage still main contributor. TWC derives the bulk of its revenue from its
Heavy Lift and Haulage segment, which contributed some S$44.2m (or 67%) of its 1HFY08
revenue of S$65.8m, fueled by the increased construction activities both domestically and
from emerging markets such as Indonesia, Vietnam and the Middle East. Going forward,
TWC plans to actively seek business opportunities in the emerging markets as well as
invest in higher capacity and specialized equipment. For example, TWC became the first
Singapore company to be awarded an investment licence to operate a 100% foreign-owned
entity in Saudi Arabia in 2007, which it will use as a base to springboard into the region.
We understand that TWC has deployed about 60 cranes there and plans to add another 100
to its fleet in the Middle East in the next two years.
O&G fabrication and engineering competency. And in view of the good growth prospects in
the oil-rich regions, TWC also plans to develop its fabrication and engineering competency
for marine, oil & gas projects. TWC Oil & Gas Services was set up to spearhead the offshore
services sector, with expertise in O&G offshore platform, marine vessel fabrication & repair
services, and heavy steel module fabrication. TWC landed its maiden project in Sep 2007
worth S$64.8m from Norce Offshore Pte Ltd to build a 46.3-metre derrick pipe-lay barge,
which it targets to deliver in Dec 2008 or Jan 2009. Although this new business segment
suffered a loss of S$2.8m on revenue of S$9.1m in 1HFY08, it was mainly due to start-up
costs incurred for yard development. But as TWC will recognise about 40% of its S$64.8m
contract in 2HFY08, the segment is likely to return to the black. Going forward, TWC also
remains confident and will continue to work hard to grow its new income stream from
fabrication and engineering projects. We do not have a rating on the stock currently
By Carey Wong ( OCBC )
Thu, 3 Apr 2008, 11:00:34 SGT
been monitoring the technical charts of this counter...just tt its volume is a bit low for the past few days...yesterday reached half a million..seems to be better ...been a while for this week since seeing 6 digits buy up...wonder if this would be a gd sign
| Time | Last | Volume | Buy/Sell |
| 09:24:39 | 0.775 | 116,000 | Buy Up |
| 09:19:16 | 0.770 | 6,000 | Buy Up |
| 09:18:42 | 0.770 | 6,000 | Sell Down |
| 09:12:09 | 0.770 | 14,000 | Buy Up |
| 08:59:03 | 0.770 | 10,000 | Sell Down |
Fierce opening this morning with ZERO seller.
Power of buyer.....If cannot sustain will see the power of seller till ZERO Buyer.....
It will set up a $20 million regional base in the Gulf to cater to petrochemical and power projects -- the first Singapore firm to be awarded an investment licence for a fully foreign-owned entity in Saudi Arabia.
Tiong Woon is first Singapore company to be
awarded investment licence to operate 100%
foreign-owned entity in Saudi Arabia by SAGIA
Singapore
?We are well-positioned to make inroads into the booming
oil and gas sector there, as well as springboard into the
region,? says Group Chairman and MD
SINGAPORE, 23 January 2007 ? Mainboard-listed Tiong Woon Corporation
Holding Ltd (?TWC?) has become the first Singapore company to be awarded a
investment licence to run a 100-per cent foreign-owned business entity in the
Kingdom of Saudi Arabia.
The licence to TWC Arabia Limited Liability Company, which is wholly-owned by
TWC in Singapore and currently under establishment, is granted by the Saudi
Arabian General Investment Authority (SAGIA). The licence allows TWC to engage
in contracts execution of installation, lifting, maintenance services of equipment for
oil, gas, petrochemicals and electrical power related projects and marine
transportation services in Saudi Arabia.
Said Mr Meshari Al-Khaled, SAGIA?s Country Director for its Singapore office, ?We
are very pleased to grant a 100% foreign-owned business licence to TWC ? it is a
well-established company with an illustrious track record and a sound business
strategy and we are convinced of their long-term commitment to doing business in
Saudi Arabia.?
TWC is an integrated services provider for the oil and gas industry, and is a
specialist in heavy lift, and installation of process equipments. The company is
currently ranked 11th largest crane owning company worldwide by International
Cranes, a reputed trade magazine, in its IC50 2006 survey.
Mr Ang Kah Hong, TWC?s Group Chairman and Managing Director, was all smiles at
the award presentation ceremony today. He said: ?This is a very significant
achievement for our company and we are grateful to SAGIA for granting us this
investment licence. We are optimistic that the Saudi Arabian market will continue to
stay buoyant and we plan to have a dynamic presence there.?
Page 2
Middle-East Strategy
Indeed, Mr Ang said Saudi Arabia, with its projected activity in oil and gas, will be
one of the company?s key markets going forward and will form an integral part of
TWC?s Middle-East strategy. According to World Energy Outlook 2005, oil and gas
investment needs in Saudi Arabia are projected to total more than US$200 billion
from 2004 to 2030.
?We are now well-positioned to make inroads into the booming oil and gas sector
there, as well as springboard into the region. Not only are there abundant
opportunities in Saudi Arabia itself, but with a regional base there, it would be much
easier for us to explore business opportunities in the neighbouring countries there.
Over the longer term, TWC hopes to progressively build a fleet size of 50 to 100
heavy lift equipment to cater to the Middle East market.? he added. In particular, Mr
Ang mentioned the countries that, together with Saudi Arabia, form the Gulf
Cooperation Council (GCC), namely, Kuwait, Bahrain, Qatar, the United Arab
Emirates and the Sultanate of Oman.
Indeed, TWC plans to replicate what they have in Singapore to Jubail Industrial City
in Saudi Arabia, said Mr Ang. Jubail Industrial City is a massive industrial complex
situated on the Arabian gulf, and will be one of the world's largest petrochemical
complex.
SAGIA Singapore?s Mr Meshari Al-Khaled was equally upbeat. He said: ?This is part
of Saudi Arabia?s initiative to open up its market and to welcome foreign investment
into our country. One of SAGIA?s aims is to foster investment opportunities in energy,
transportation and knowledge-based industries and we will continue to award such
licences to suitable Singapore companies,? added Mr Al-Khaled.
###############
awarded investment licence to operate 100%
foreign-owned entity in Saudi Arabia by SAGIA
Singapore
?We are well-positioned to make inroads into the booming
oil and gas sector there, as well as springboard into the
region,? says Group Chairman and MD
SINGAPORE, 23 January 2007 ? Mainboard-listed Tiong Woon Corporation
Holding Ltd (?TWC?) has become the first Singapore company to be awarded a
investment licence to run a 100-per cent foreign-owned business entity in the
Kingdom of Saudi Arabia.
The licence to TWC Arabia Limited Liability Company, which is wholly-owned by
TWC in Singapore and currently under establishment, is granted by the Saudi
Arabian General Investment Authority (SAGIA). The licence allows TWC to engage
in contracts execution of installation, lifting, maintenance services of equipment for
oil, gas, petrochemicals and electrical power related projects and marine
transportation services in Saudi Arabia.
Said Mr Meshari Al-Khaled, SAGIA?s Country Director for its Singapore office, ?We
are very pleased to grant a 100% foreign-owned business licence to TWC ? it is a
well-established company with an illustrious track record and a sound business
strategy and we are convinced of their long-term commitment to doing business in
Saudi Arabia.?
TWC is an integrated services provider for the oil and gas industry, and is a
specialist in heavy lift, and installation of process equipments. The company is
currently ranked 11th largest crane owning company worldwide by International
Cranes, a reputed trade magazine, in its IC50 2006 survey.
Mr Ang Kah Hong, TWC?s Group Chairman and Managing Director, was all smiles at
the award presentation ceremony today. He said: ?This is a very significant
achievement for our company and we are grateful to SAGIA for granting us this
investment licence. We are optimistic that the Saudi Arabian market will continue to
stay buoyant and we plan to have a dynamic presence there.?
Page 2
Middle-East Strategy
Indeed, Mr Ang said Saudi Arabia, with its projected activity in oil and gas, will be
one of the company?s key markets going forward and will form an integral part of
TWC?s Middle-East strategy. According to World Energy Outlook 2005, oil and gas
investment needs in Saudi Arabia are projected to total more than US$200 billion
from 2004 to 2030.
?We are now well-positioned to make inroads into the booming oil and gas sector
there, as well as springboard into the region. Not only are there abundant
opportunities in Saudi Arabia itself, but with a regional base there, it would be much
easier for us to explore business opportunities in the neighbouring countries there.
Over the longer term, TWC hopes to progressively build a fleet size of 50 to 100
heavy lift equipment to cater to the Middle East market.? he added. In particular, Mr
Ang mentioned the countries that, together with Saudi Arabia, form the Gulf
Cooperation Council (GCC), namely, Kuwait, Bahrain, Qatar, the United Arab
Emirates and the Sultanate of Oman.
Indeed, TWC plans to replicate what they have in Singapore to Jubail Industrial City
in Saudi Arabia, said Mr Ang. Jubail Industrial City is a massive industrial complex
situated on the Arabian gulf, and will be one of the world's largest petrochemical
complex.
SAGIA Singapore?s Mr Meshari Al-Khaled was equally upbeat. He said: ?This is part
of Saudi Arabia?s initiative to open up its market and to welcome foreign investment
into our country. One of SAGIA?s aims is to foster investment opportunities in energy,
transportation and knowledge-based industries and we will continue to award such
licences to suitable Singapore companies,? added Mr Al-Khaled.
###############
something is happening......price are up so fast.....any comments
Now is following the peer uptrend......Cheong all the way like their peer "Rotary" and "Federal". They have been choeng up at least 20cents liao.......Their turns coming.....looking cheap to buy...
Seems to be on a TA downtrend now
TIONG WOON ENTERS NEW DISTRIBUTOR AGREEMENT WITH IHI
The Board of Directors of Tiong Woon Corporation Holding Ltd (the "Company" or
?TWCH?) is pleased to announce that its wholly owned subsidiary, Tiong Woon
Crane & Transport Pte Ltd (?TWCT?), has entered into addendum agreements (?New
Distributor Agreements?) with IHI Construction Machinery Limited (?IHI?) to include
new territories for its distributorship.
Under the previous distributor agreement, TWCT was responsible to market IHI?s
brand of crawler cranes and parts in the region of Singapore, Malaysia and Brunei.
Subsequent to the signing of the New Distributor Agreements, the territories shall
include new territories covering Vietnam, Thailand, Philippines, Cambodia, Laos and
Myanmar.
?The award of the New Distributor Agreements is a firm endorsement by IHI on
TWC?s success in promoting IHI?s cranes and providing reliable after sales services
to our clients in the region. Going forward, we hope to establish more distributorships
with promising equipment suppliers to broaden our revenue stream and complement
our core businesses?, said Mr. Ang Kah Hong, Group Chairman and Managing
Director.
TWCH has an established track record in managing numerous turnkey projects in
process equipment installation, heavy lift and haulage and marine transportation in
Singapore, Thailand, Indonesia, Malaysia, Philippines, Vietnam and the People?s
Republic of China. The Company is actively seeking business opportunities in Oil &
Gas, Petrochemical and Power industries as well as other infrastructure projects in
the Asia & the Middle East regions.
The above transaction is not expected to have any material impact on the
consolidated net tangible assets and earnings per share of the Group for the current
financial year.
None of the directors or substantial shareholders of the Company has any interest,
direct or indirect in the aforesaid transaction.
BY ORDER OF THE BOARD
Joanna Lim Lan Sim
Company Secretary
1 December 2006
Singapore
The Board of Directors of Tiong Woon Corporation Holding Ltd (the "Company" or
?TWCH?) is pleased to announce that its wholly owned subsidiary, Tiong Woon
Crane & Transport Pte Ltd (?TWCT?), has entered into addendum agreements (?New
Distributor Agreements?) with IHI Construction Machinery Limited (?IHI?) to include
new territories for its distributorship.
Under the previous distributor agreement, TWCT was responsible to market IHI?s
brand of crawler cranes and parts in the region of Singapore, Malaysia and Brunei.
Subsequent to the signing of the New Distributor Agreements, the territories shall
include new territories covering Vietnam, Thailand, Philippines, Cambodia, Laos and
Myanmar.
?The award of the New Distributor Agreements is a firm endorsement by IHI on
TWC?s success in promoting IHI?s cranes and providing reliable after sales services
to our clients in the region. Going forward, we hope to establish more distributorships
with promising equipment suppliers to broaden our revenue stream and complement
our core businesses?, said Mr. Ang Kah Hong, Group Chairman and Managing
Director.
TWCH has an established track record in managing numerous turnkey projects in
process equipment installation, heavy lift and haulage and marine transportation in
Singapore, Thailand, Indonesia, Malaysia, Philippines, Vietnam and the People?s
Republic of China. The Company is actively seeking business opportunities in Oil &
Gas, Petrochemical and Power industries as well as other infrastructure projects in
the Asia & the Middle East regions.
The above transaction is not expected to have any material impact on the
consolidated net tangible assets and earnings per share of the Group for the current
financial year.
None of the directors or substantial shareholders of the Company has any interest,
direct or indirect in the aforesaid transaction.
BY ORDER OF THE BOARD
Joanna Lim Lan Sim
Company Secretary
1 December 2006
Singapore