Crane operator Tiong Woon is very under-rated, says brokerage Lim & Tan

Tiong Woon's gearing stands at 33 per cent, but most of the debt is secured by the firm's new headquarters.
Tiong Woon's gearing stands at 33 per cent, but most of the debt is secured by the firm's new headquarters.PHOTO: TIONGWOONTWC/FACEBOOK

SINGAPORE - The stock of listed crane operator Tiong Woon Corp (TWC) surged more than 15 per cent on Wednesday (June 30) after Lim & Tan Securities initiated coverage on the company, citing it as an overlooked regional giant.

The counter closed 7.5 cents higher at 56 cents, after the financial house tagged a target price of 84 cents on it.

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