Singapore Catalist-listed Crane specialist Hiap Tong Corporation Ltd (“Hiap Tong”, “协通企业有限公司”, or the “Group”) today posted a healthy 28.7% increase in operating profit for its six months ended 30 September 2013 (“HY2014”). Net profit dipped slightly to S$2.7 million mainly due to higher finance expenses such as higher exchange rate loss, impairment on receivables and interest expense.
Hiap Tong Corporation Ltd. is a leading provider of hydraulic lifting and haulage services to the marine, petrochemical and construction industries in Singapore, for more than 30 years.
The Group has a combined lifting fleet and haulage fleet size of more than 300 vehicles. It offers the largest range of lifting capabilities in the hydraulic mobile crane category and is the only company in Singapore able to provide mobile lifting service with lifting capacities of up to 1,200 tonnes
With an established customer base of more than 200 customers, some of its notable customers include Sembawang Shipyards Pte Ltd, SMOE Pte Ltd and Keppel Corporation Limited in the marine industry; Sankyu (S) Pte. Ltd. and Singapore Takada Industries Pte. Ltd. in the petrochemical industry; as well as Yong Nam Engineering & Construction Pte Ltd, Dragages Singapore Pte Ltd and Sembawang Engineering & Construction Pte Ltd in the construction industry.