Singapore-based Tat Hong Holdings, Asia Pacific’s largest crane rental company, posted a 26-percent revenue jump for its fiscal first half, and an 18-percent hike for its fiscal second quarter ended Sept. 30. First-half revenue was SG $431.3 million (about U.S. $352.4 million) compared with SG $341.7 million a year ago. Net profit soared 88 percent to SG $34 million, compared to SG $18.1 million a year ago.
"The slew of infrastructure and oil and gas projects that have come on-stream have boosted crane rental revenues from our major markets such as Australia, Singapore, Malaysia, Thailand, Hong Kong and China,” said Roland Ng, Tat Hong managing director. “As many of these are long- term projects, we are upbeat about our crane rental performance in the coming months.
"We are also starting to see an increasing proportion of our revenues being contributed by the crane rental and tower crane rental business which is reflective of the buoyant market conditions. We have put in a lot of effort to invest and nurture our overseas crane rental business and we are glad to see our investments bearing fruit."