Singapore-based heavy equipment and crane rental company Tat Hong posted a 74-percent increase in net profit in fiscal 2004, company officials said last week.
Reported by Channel News Asia to be the largest crane company in the Asia Pacific region, Tat Hong enjoyed particularly strong growth in Australia over the past year. Tat Hong officials are looking for strong growth in China, Vietnam and Indonesia in the coming years, although China’s growth will be concentrated more on trading of equipment because the rental business is not mature enough in China yet.
With a positive regional outlook in the infrastructure, oil and gas sectors, Tat Hong has set a target growth of 25 percent over the next three years.
