Tiong Woon - UOB Kay Hian 2023-11-01: Well-positioned To Benefit From Upturn In Construction And Oil & Gas Sectors

Tiong Woon - Well-positioned To Benefit From Upturn In Construction And Oil & Gas Sectors

Tiong Woon (SGX:BQM) | SGinvestors.ioTiong Woon (SGX:BQM)
  • Tiong Woon is well-positioned to benefit from the construction and oil & gas upcycles. Its outlook has turned positive on the back of a strong project pipeline. FY23 earnings grew 38% y-o-y and dividend doubled to 1.0 cents.
  • - Read this at SGinvestors.io -
  • Maintain BUY rating on Tiong Woon with target price of S$0.85, pegged to 0.7x FY24F P/B (+1 standard deviation above the P/B mean).

Well-positioned to benefit from construction and oil & gas industries upcycles.

  • With comprehensive ownership of more than 500 cranes, some of which can have a capacity of up to 2,200 tonnes, Tiong Woon Corporation (SGX:BQM) is in a good position to benefit from the strong resumption of activities in Singapore’s construction sector and rising capex in the oil & gas industry.
  • - Read this at SGinvestors.io -
  • Construction of more new petrochemical plants could also increase demand for cranes.

Positive outlook driven by strong project pipeline.

  • Read more at SGinvestors.io.

Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.

John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-11-01

Previous report by UOB:
2022-08-29 Tiong Woon - Healthy Double-Digit Earnings Growth In FY22; Expect A Better FY23.

Price targets by other brokers at Tiong Woon Target Prices.

Listing of research reports at Tiong Woon Analyst Reports.

Relevant links:
Tiong Woon Share Price History,
Tiong Woon Announcements,
Tiong Woon Dividends & Corporate Actions,
Tiong Woon News Articles


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