Incorporates in Saudi Arabia
Tiong Woon Corp has obtained the license to incorporate in Saudi Arabia. The subsidiary, called TWC Arabia Ltd, has a paid-up capital of 500,000 Saudi Riyals which is funded by Tiong Woon internally.
TWC Arabia will provide installation, lifting, maintenance services for oil, gas, petrochemicals and other electric power related projects. It will also provide marine transportation services.
Analysts surveyed by Reuters Estimates have an 'Outperform' call on Tiong Woon’s stock, with a target price of S$1.40.
Tuesday, December 4, 2007
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