Tiong Woon Corp

[2V.]

FY13's 1Q (ended 30Sep12) result just out.....
http://info.sgx.com/webcoranncatth.nsf/V...0002C38C5/$file/TWCH_1QResultsFY2013.pdf?openelement [result announcement]
http://info.sgx.com/webcoranncatth.nsf/V...0002CE0D9/$file/TWCH_PressRelease1QFY2013.pdf?openelement [press release]

While the 1Q's much higher PBT at $5.183m included a $2.205m net gain on disposal of equipment (vs. a corresponding sale proceeds of $5.744m) - an indication that the CMV of some of Tiong Woon's cranes have gone up, or that the carrying BV of those disposed cranes were much lower than their fair market value - and together with the healthy 37% yoy increase in the revenue from the core Heavy Lift and Haulage segment, there are positive signs that demand, rental rates, fleet utilisation, and crane prices are poised to improve further. While the reported PBT and NP remained smallish, I guess we should bear in mind that Tiong Woon continues to generate very respectable positive FCF.

Hi dydx, are you vested in Tiong woon currently? You seem to have done detailed analysis on this Co