Sin Heng

Sin Heng: (The Edge) Set its sights on being the next Tat Hong, afrer raising $18m via rights issue. With current market cap of $101m, grp’s CEO likens the co. as Tat Hong when it first listed and asks shareholders to give him another 3 to 5 year and the Grp will be another Tat Hong, whose current market cap stands at $746m. Grp’s vision is to expand overseas now it has access to capital markets and formed a strategic partnership with Toyota Tsusho Corp, to support its growth. As one of the first overseas crane operators to enter Vietnam, it has since doubled its cranes in the country to 20 while it currently has 5 cranes in Myanmar with a Utilization rate of 85%. In Myanmar, while contracts are currently small, bigger contracts could come as early as nxt yr, as shareholder Toyota Tsusho is bidding for airport, infrastructure, O&G and port construction projects and Sin Heng could be a beneficiary. With funds raised from its rights issue, the group could pursue more jobs and expand its fleet.