Tiong Woon
Tiong Woon is a Singapore-listed integrated heavy lift specialist serving oil and gas, petrochemical, infrastructure, construction, semiconductor, data centre, and biopharmaceutical projects across 12 Asia-Pacific and Middle East countries via its own fleet of cranes, trailers, and marine vessels.
- Company typePublic
- Founded1979
- HeadquartersSingapore, Singapore
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Tiong Woon does
Tiong Woon Corporation Holding Ltd is a Singapore-listed integrated heavy lift specialist (SGX-ST Mainboard, ticker BQM, listed since 1999) with 45+ years of operating history. The company provides turnkey project engineering, heavy lifting, heavy haulage and transportation, marine transportation, and equipment trading services, primarily to the oil and gas, petrochemical, infrastructure, and construction sectors, with growing exposure to semiconductors, data centres, and biopharmaceuticals. It owns and operates a fleet of specialized equipment including crawler cranes, mobile cranes, rough terrain cranes, lorry cranes, tower cranes, prime movers with trailers/low beds, self-propelled modular trailers, tugboats and barges, and compression load cells, which it deploys through wholly-owned subsidiaries including Tiong Woon International Pte. Ltd. and Tiong Woon Logistics Pte. Ltd.
The business operates an enterprise, project-based go-to-market model in which services are priced on a custom quote basis, billed via multi-year contracts, and executed through direct sales engagement with EPC contractors and project owners. Target customers include tier-one engineering firms and energy majors such as Shell, JGC, Takenaka Corporation, and Tokuyama Malaysia, alongside public infrastructure clients like Changi Airport. The company has direct-to-customer digital channels including a website with Request a Quote functionality, booking hotlines, and WhatsApp contact, supported by a presence on Facebook, YouTube, and LinkedIn.
Tiong Woon operates across 12 countries in Asia-Pacific and the Middle East, with a geographic footprint spanning Singapore, Malaysia, Indonesia, Thailand, Vietnam, China, Philippines, Myanmar, Brunei, India, Sri Lanka, Bangladesh, and Saudi Arabia. FY2025 revenue reached S$163.5 million (up from S$112.9 million in FY2021), with net profit of S$19.2 million and gross margin of 43% in 1HFY2026 (up from 39% in 1HFY2025). The balance sheet is conservative with net gearing of 11.5%, and the company has set a S$200 million revenue target by FY2030, with management indicating openness to overseas M&A.
Tiong Woon firmographics
Firmographics- Name
- Tiong Woon
- Legal name
- TIONG WOON CORPORATION HOLDING LTD
- Website
- https://tiongwoon.com
- Company type
- Public
- Founded year
- 1979
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Tiong Woon is a Singapore-listed integrated heavy lift specialist serving oil and gas, petrochemical, infrastructure, construction, semiconductor, data centre, and biopharmaceutical projects across 12 Asia-Pacific and Middle East countries via its own fleet of cranes, trailers, and marine vessels.
- Ownership category
- akta.pro rank
Tiong Woon industry classification
Industry- Product category
- Heavy Lift Services
- NAICS
- Overhead Traveling Crane, Hoist, and Monorail System Manufacturing (333923), Specialized Freight (except Used Goods) Trucking, Long-Distance (48423), Marine Cargo Handling (48832)
- SIC
- Construction, Mining & Materials Handling Machinery & Equip (3530), Industrial Trucks, Tractors, Trailors & Stackers (3537), Transportation Services (4700)
- akta.pro primary industry
- Cranes, Hoists & Overhead Material Handling (Industrial) (IMAHABAE)
- akta.pro secondary industries
- Gantry & Portal Cranes (IMAHAJAD), Cranes, Hoists & Rigging Equipment MRO (Mobile/Tower Cranes, Winches) (TLAKAHAE), Industrial Trailers, Carts & Tugger Trains (In-Plant Logistics) (IMAHABAL)
Keywords
Where Tiong Woon is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices13 records
Markets served
Tiong Woon business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D
Revenue model
- Heavy Lift and Haulage Services: Primary revenue driver providing heavy lifting and transportation services for heavy process equipment and structures. Revenue from external customers was S$88.1 million in 1HFY2026 (15% increase from S$76.9 million in 1HFY2025), driven by higher contributions from Singapore, Thailand and Brunei operations.
- Marine Transportation Services: Specialized tugboat and barge services for marine transportation. External revenue was S$1.5 million in 1HFY2026 (56% increase from S$0.9 million in 1HFY2025), due to more chartering jobs.
- Trading: Trading of equipment including crane trading and other heavy equipment. External revenue was S$0.1 million in 1HFY2026, decreased from S$1.0 million in 1HFY2025 due to fewer trading equipment sold.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Project-based custom pricing |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Tiong Woon product offering
Product offeringCore offering
Tiong Woon is an integrated heavy lift and haulage specialist providing heavy lifting, heavy haulage and transportation, marine transportation, project engineering, and trading services to oil and gas, petrochemical, infrastructure, and construction clients. Operations are supported by an owned fleet of mobile and crawler cranes, hydraulic trailers, tugboats, and barges, combined with in-house engineering and project execution. The group operates across 12 countries in Asia-Pacific and the Middle East.
Product overview
Tiong Woon is a one-stop integrated heavy lift specialist and service provider offering a comprehensive portfolio of services and equipment rental. The company operates a multi-layered service architecture comprising five core service offerings (Project Engineering Services, Heavy Lifting Services, Heavy Haulage & Transportation Services, Marine Transportation Services, and Trading) supported by an extensive fleet of 15 equipment types including various cranes (Crawler, Mobile, Rough Terrain, Lorry, Tower), prime movers with trailers/low beds, self-propelled modular trailers, tugboats and barges, and load cells. This integrated model allows Tiong Woon to manage turnkey projects from engineering and planning through execution, serving primarily the oil and gas, petrochemical, infrastructure, and construction sectors across 12 countries in the Asia-Pacific and Middle East regions.
Differentiator
Problem solved
Functional benefit
Products and services
- Heavy Lifting Services Crane-based heavy lifting services for plant modules, structures, and equipment on oil and gas, petrochemical, infrastructure, and construction projects.
- Heavy Haulage and Transportation Heavy haulage and over-dimensional road transport of plant modules, structures, and equipment using hydraulic modular trailers and prime movers for industrial and infrastructure clients.
- Marine Transportation Coastal marine transportation of heavy and over-dimensional cargo using owned tugboats and barges for energy, petrochemical, and infrastructure projects.
- Project Engineering Project engineering services including lift studies, rigging design, transport planning, and project management for complex heavy lift and haulage scopes.
- Trading Trading of equipment, components, and related supplies supporting the group's heavy lift and haulage operations across regional markets.
Quantifiable outcome
- Revenue grew from S$112.9 million in FY2021 to S$163.5 million in FY2025
- +3 more outcomes
Companies that use Tiong Woon
Customer profileNamed customers9 records
Segments6 records
Ideal customer profiles1 record
Tiong Woon technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Tiong Woon partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and major.
- Strategic Alliance Partners (unspecified)coreTiong Woon strengthened its market position through a strategic alliance and asset acquisition, enhancing its capabilities and regional presence.
- Takenaka CorporationcoreTiong Woon was awarded a contract by Takenaka Corporation for lifting and installation works at a refinery project. Takenaka Corporation is a major Japanese general construction company serving the oil and gas and petrochemical sectors.
- JGC CorporationmajorTiong Woon inked a contract with JGC Corporation for lifting and installation works at a refinery project. JGC Corporation is a leading global engineering company.
- Tokuyama MalaysiamajorTiong Woon secured contract for equipment erection works for Tokuyama Malaysia project in Sarawak, supporting petrochemical facility construction.
- ShellmajorTiong Woon sealed deals with Shell for 3 projects for provision of mobile cranes and maintenance works. This represents an ongoing relationship with the energy major across multiple projects.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Tiong Woon competitors and assessment
Company assessmentDirect peers
- Sarens: World-leading heavy lifting, engineered transport, and crane rental company. Comparable to Tiong Woon on turnkey heavy lift projects, owned crawler and tower crane fleet, and integrated transport of oversized process modules.
- Mammoet: Global heavy lifting and transport specialist with a large owned fleet of cranes, SPMTs, and engineered transport equipment. Directly competes with Tiong Woon on integrated heavy lift and haulage scopes for oil & gas, petrochemical, and infrastructure projects across Asia-Pacific.
- Wagenborg: Dutch heavy lift, transport, and maritime logistics provider with cranes, SPMTs, and a sizable fleet of vessels. Competes with Tiong Woon in heavy haulage, crane rental, and marine transportation for industrial and energy projects.
- BigLift Shipping: Heavy lift shipping specialist focused on breakbulk and project cargo using owned heavy-lift vessels. Comparable to Tiong Woon's marine transportation and integrated heavy lift and haulage offering for energy and infrastructure projects.
Broad incumbents
- Liebherr: Global manufacturer of crawler, mobile, tower, and offshore cranes, plus heavy haulage equipment. Comparable to Tiong Woon as an industry peer and supplier/customer dynamic — Tiong Woon operates Liebherr-class equipment for its heavy lift fleet.
- Tadano (incl. Demag): Major global crane OEM (including Demag and Grove brands) for crawler, mobile, and all-terrain cranes. Comparable to Tiong Woon as the broader crane industry context and as a fleet supplier for the heavy lift sector.
Regional players
- Vallianz Holdings: Singapore-listed offshore marine services provider transporting heavy equipment and supporting oil & gas field development. Adjacent to Tiong Woon's marine transportation and project work for energy clients in the region.
- KENC Engineering: Singapore-based heavy lifting and offshore engineering company serving oil & gas and infrastructure clients in Southeast Asia. Comparable regional competitor to Tiong Woon's heavy lift and engineering services model in the home market.
- Borneo Oilfield Logistics: Malaysia-based oil & gas logistics and supply base operator with heavy equipment handling. Operates in the same regional upstream logistics ecosystem that Tiong Woon serves through its Borneo/Sarawak projects.
- Sinwa (Sinwa Limited): Singapore-based marine supplies and offshore logistics company with exposure to oil & gas and offshore services. Comparable regional footprint and adjacent service offering to Tiong Woon's marine transportation and logistics subsidiary.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Tiong Woon social profiles
Digital presenceTiong Woon financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tiong Woon leadership team
Management profileNumber of profiles
Profiles7 records
Tiong Woon subsidiaries and ownership
Company hierarchySubsidiaries5 records
Tiong Woon funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tiong Woon M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Tiong Woon
What does Tiong Woon do?
Tiong Woon is an integrated heavy lift and haulage specialist providing heavy lifting, heavy haulage and transportation, marine transportation, project engineering, and trading services to oil and gas, petrochemical, infrastructure, and construction clients. Operations are supported by an owned fleet of mobile and crawler cranes, hydraulic trailers, tugboats, and barges, combined with in-house engineering and project execution. The group operates across 12 countries in Asia-Pacific and the Middle East.
Is Tiong Woon a public or private company?
Tiong Woon is a public company. It is classified as public and is currently operating.
When was Tiong Woon founded?
Tiong Woon was founded in 1979. It employs 1,001 to 5,000 people.
Where is Tiong Woon based?
Tiong Woon is headquartered in Singapore, Singapore, in the Asia region.
How does Tiong Woon make money?
Three revenue lines are on record. Heavy Lift and Haulage Services are the primary driver. The others are marine Transportation Services and trading.
Who are Tiong Woon's main competitors?
Direct peers on record are Sarens, Mammoet, Wagenborg and BigLift Shipping. Broad incumbents are Liebherr and Tadano (incl. Demag). Regional players are Vallianz Holdings, KENC Engineering, Borneo Oilfield Logistics and Sinwa (Sinwa Limited).
Does Tiong Woon have an API?
No public API is recorded for Tiong Woon.
What industry is Tiong Woon in?
Tiong Woon's product category is Heavy Lift Services. Its primary akta.pro industry code is IMAHABAE, Cranes, Hoists & Overhead Material Handling (Industrial), with a secondary code of IMAHAJAD, Gantry & Portal Cranes. Its NAICS code is 333923 and its SIC code is 3530.