Singapore-based Tat Hong, Asia’s largest crane company, posted an 18-percent revenue increase for its full fiscal year 2011 ended March 31, totaling SG$584.2 million (about U.S. $472.9 million) compared with SG$495.4 million for fiscal 2010. All of the group’s core business segments posted double-digit growth with the exception of general equipment rental, which was hurt by a weak first-half performance.
Crane rental grew 12 percent to SG$184.9 million, led by the tower crane rental division, which grew 52 percent to SG$12.9 million, with particularly strong performance in China. Tat Hong’s Japan division was impacted by the earthquake and tsunami. Tat Hong donated SG$300,000 to the Japan disaster relief fund through the Singapore Red Cross.
“We remain hopeful of a brighter outlook in FY2012 should market conditions remain unaffected by any sudden adverse natural or economic occurrences,” said Roland Ng, president and group CEO of Tat Hong Holdings.