Tiong Woon Project and Contracting, a wholly-owned subsidiary of Tiong Woon Corporation BQM , has been awarded a contract by Sinohydro Corporation’s Singapore Branch for the provision of crane services for an upcoming project.
The contract will commence in the second half of FY2024 ending June 30 and is scheduled to be completed in December.
While the contract value was not disclosed, Tiong Woon expects the project to contribute positively to the revenue of the subsidiary for FY2024 and FY2025.
CEO Michael Ang says that receiving this “vote of confidence” from a customer like Sinohydro for a significant project like the integrated waste management facility project is “gratifying” and sends a strong signal that the company continues to be the partner of choice in complex, critical infrastructure projects.
“We are also particularly pleased to be able to extend our services to the waste management industry, which is expected to grow substantially over the years in tandem with the global emphasis on sustainability,” adds Ang.
Shares in Tiong Woon closed flat at 46 cents on Jan 2.
