The Group said its good showing was due to contributions from all its three business segments – heavy lift and haulage, marine transportation and trading – all of which recorded good growth.

“It is an excellent set of results, and for us, it is a record since our listing,” said Ang Kah Hong, TWC’s Group Chairman and Managing Director. “But we cannot rest on our laurels. We must continue to work hard to ensure that we continue to sustain our growth,” he said.

Ang added that going forward, TWC would be looking to grow in a new business area as an oil and gas service provider. In November last year, TWC bought a 65- hectare fabrication yard in Bintan, Indonesia, with a view to supporting its current fleet of heavy lift equipment, tugs and barges, and in due course, growing a new income stream from fabrication and engineering projects.

“There are many opportunities in the oil and gas sector, both locally and overseas, and we will certainly do our best to convert these into contracts in order that we can grow our business and increase our profitability,” he said. The Group plans to actively pursue business opportunities in Infrastructure, Power Plants, Petrochemicals and Oil and Gas projects in markets such as China, Thailand, Malaysia, Indonesia, Vietnam and the Middle East. Mr. Ang added that Saudi Arabia, with its projected activity in oil and gas, will be one of the company’s key markets going forward and will form an integral part of TWC’s Middle-East strategy, the company said.