- 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.
