- Established in 1978 and listed on the SGX Catalist Board in 2009, Hiap Tong (SGX:5PO) is a provider of hydraulic lifting and haulage services to the marine, petrochemical, and construction industries in Singapore.
- - Read this at SGinvestors.io -
- port services; and
- others, which includes trading revenue, rental and management of investment properties, and work train operations.
- According to its 1HFY23 (Apr to Sep 2022) update, Lifting and haulage services contributed ~70.5% to total revenue in 1HFY23. Hiap Tong mainly operates in Singapore and Malaysia, with the former contributing ~99.0% to total revenue in 1HFY23.
Large customer base; ongoing 5-year ExxonMobil/LTA contracts
- - Read this at SGinvestors.io -
- On 6 Dec 2022, Hiap Tong announced it was awarded a 5-year contract (from Dec 2022 to Dec 2027) by ExxonMobil for the provision of lifting services to ExxonMobil and/or its affiliates for ExxonMobil’s Singapore Chemical Complex. This is the third time ExxonMobil has renewed its contract with Hiap Tong following the end of previous 5-year contracts signed in 2013 and 2018.
- On 30 Sep 2021, Hiap Tong announced it was also awarded a 5-year contract by the Land Transport Authority (LTA) for the provision of services for Works Train Operation for MRT projects for a total contract price of ~S$36.4m.
1HFY23 revenue surged ~51.2% y-o-y, thanks to lifting and haulage
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
William TNG CFA CGS-CIMB Research | Izabella TAN CGS-CIMB Research | https://www.cgs-cimb.com 2023-05-19
Price targets by other brokers at Hiap Tong Target Prices.
Listing of research reports at Hiap Tong Analyst Reports.
Relevant links:
Hiap Tong Share Price History,
Hiap Tong Announcements,
Hiap Tong Dividends & Corporate Actions,
Hiap Tong News Articles
