Kim Heng provides a range of marine and offshore-related services, including building, repair work and chartering. In 2HFY2022 ended December 31, 2022, Kim Heng reported earnings of $2.3 million, rebounding from losses of $2.2 million in 2HFY2021.
In his four decades in the marine industry, Thomas Tan, executive chairman and CEO of Kim Heng (SGX:5G2
) , has been through four of the industry’s cycles. As he leads the company out of the most recent downturn, there is an almost palpable sense of relief.
“Looking back at all our reference points, for every seven years, there has been one bad year,” says Tan in an interview with The Edge Singapore. “I think this round has been the worst I’ve ever seen. It was like a tornado sweeping across an entire town.”
