Tiong Woon Corporation Holding Ltd reported that net profit attributable to equity holders for the 12 months ended Jun 30 rose 24% year-on-year to S$23.9 million, driven by firm demand for its heavy lift and haulage services, which helped lift group revenue 15% to S$187.7 million.
Earnings per share increased to 10.31 Singapore cents from 8.29 cents a year earlier. The board has proposed a final tax-exempt dividend of 2.50 cents a share, up 43% from the previous year; the books-closure and payment dates will be announced later. Net asset value per share strengthened to S$1.47 from S$1.39, while cash and bank deposits rose to S$86.6 million, trimming net gearing to 9.5% from 14.7%.
Heavy Lift and Haulage remained the key earnings engine, with external revenue climbing 12% to S$179.6 million and pre-tax profit rising 23% to S$28.4 million. The segment benefited from higher activity in Singapore, India and Brunei, although this was partly offset by increased manpower and depreciation expenses.
Marine Transportation revenue improved 16% to S$2.6 million on more chartering jobs, but pre-tax profit fell to S$0.8 million from S$1.3 million after lower inter-segment income and reduced contributions from associated companies. The Trading division more than tripled its external sales to S$5.5 million, swinging to a pre-tax profit of S$0.3 million from a marginal loss a year earlier.
Management acknowledged higher operating costs and intensified competition as continuing headwinds, alongside geopolitical and trade uncertainties. Nevertheless, the company cited robust order flow from Singapore’s construction, semiconductor, data-centre and biopharmaceutical projects, as well as healthy activity in India and Thailand, as supportive factors for near- and mid-term demand.
Tiong Woon plans to keep renewing and expanding its crane and transport fleet, maintain disciplined capital allocation and pursue opportunities in emerging sectors. It also aims to leverage its position as Southeast Asia’s leading crane owner—ranked 15th globally in the 2026 IC100 index—to capture growth in regional infrastructure, petrochemical and industrial developments.
Executive director and chief executive officer Michael Ang Guan Hwa said the latest results reflected “disciplined execution” and the resilience of the group’s integrated model. He noted that the stronger cash position and lower gearing provide capacity for further investment, and indicated that management will focus on deepening regional presence and servicing new-economy sectors while sustaining shareholder returns through an increased dividend.