Tiong Woon Corporation Holding Ltd, a mainboard-listed heavy lift specialist, has reported a 24% increase in net profit attributable to equity holders, reaching S$23.9m for the financial year ending 30 June 2026. The company also saw a 15% rise in revenue, totalling S$187.7m, driven by strong demand for its integrated heavy lift and haulage solutions in Singapore and key regional markets.
Earnings per share for Tiong Woon Corporation increased from 8.29 cents to 10.31 cents, whilst the net asset value per share strengthened from S$1.39 to S$1.47. The company ended the year with a robust cash balance of S$86.6m, which it plans to use for growth and future expansion. A final dividend of 2.50 cents per share has been proposed, marking a 43% increase.
Michael Ang Guan Hwa, Executive Director and CEO of Tiong Woon Corporation, stated, “FY2026 was a year of disciplined execution. Demand for our integrated heavy lift and haulage solutions remained firm in Singapore and our key regional markets, and continued investment in fleet renewal supported our growth and operational efficiency.”
Looking ahead, the company aims to strengthen its core capabilities and deepen its presence in regional markets. It also plans to explore opportunities in emerging sectors such as data centres and biopharmaceuticals, whilst maintaining a resilient balance sheet and delivering sustainable returns to shareholders. The board remains confident in the group’s prospects, supported by a reduced net gearing of 9.5%.
