Revenue from the Marine Transportation segment decreased by 14% to $3.3 million in FY17, mainly due to fewer chartering jobs secured as a result of the downturn in the offshore and marine industry.
SINGAPORE (Aug 24): Tiong Woon, the heavy lift specialist and services provider, recorded a net loss of $9.6 million in FY17, a tad lower than the loss of $9.7 million recorded in FY16.
Revenue for the full year came in at $114.8 million, 18% lower compared to a year ago, mainly due to lower contribution from its Heavy Lift and Haulage segment, particularly in Singapore, India and the Middle East.
