Coupled with lower gross profit margin, the segment recorded a loss before tax of $1.1 million during the quarter, compared with a profit before tax (PBT) of $3.8 million a year ago.
SINGAPORE (May 9): Tiong Woon Corporation Group, the heavy lift specialist and service provider, reported 3Q net loss widened to $2.9 million from $0.2 million a year ago.
Revenue fell 36% to $24.3 million. Revenue from the Heavy Lift and Haulage segment was $22.4 million, a decline of 31%, as there were fewer projects executed in Singapore, India and the Middle East compared to a year ago.
