Tiong Woon Corp. Could Benefit from Regional Infrastructure Plans
Dow Jones
Sep 03
0740 GMT - Tiong Woon Corp. is likely to benefit from various construction- and infrastructure-focused nation-building plans in Southeast Asia and the Middle East, say CGS International analysts in a note. The Singapore heavy lift and haulage company has a strong regional track record and is vying for more integrated heavy lift projects, such as in the semiconductor, data center and petrochemical sectors, which should deliver improved margins, they say. Still, the analysts cut their FY 2027-FY 2028 earnings-per-share projections by 2%-10% on more conservative fleet utilization estimates. CGSI raises its target price to 1.33 Singapore dollars from S$1.29 and reiterates its add rating. Shares fall 0.5% to S$0.96.
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