- Tiong Woon Corporation (SGX:BQM) is the 15th largest crane-owning company worldwide in the latest IC100 2024 survey, up 4 ranks from19th place last year. It is also one of the leading one-stop integrated heavy lift specialist and service providers, benefiting from the booming O&G, petrochemical, infrastructure, and construction sectors.
Earnings growth for 7 straight years
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- Gross profit margin improved by 1.3ppt to 41.2% in FY24, due to a higher contribution from the heavy lift & haulage segment (+6% y-o-y) which forms about 97% of turnover.
FY24 dividends raised by 50%
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- Backed by its strong operating cashflow, Tiong Woon raised its FY24 dividends by 50% y-o-y to 1.5 cents. This translates into a dividend payout ratio (DPR) of only 19%, allowing room to potentially increase its dividend payout going forward.
Strategic alliance with Mammoet
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