Summary:
In this paper, the easier to find Singapore's annual report of listed companies to the primary principles of financial reporting framework.
A summary of the Chairman's report, critically comment on the rationale for the Chairman's comments. The evaluation must include at least four key financial calculations relating to profitability, liquidity and gearing. Evaluate in what respects this Annual Report meets the framework of IASB good financial standards and disclosures.
Introduction
Tiong Woon Group Holdings Limited is a holding company of investment. It is one of top master and solution providers of global infrastructure today. It has grown to become a fleet owner of more than 400 cranes and others haulage and marine equipments from a single crane operator in 1989. They provide all kinds of industries ranging from Oil & Gas and Petrochemical to Power Generation and Construction. The company and their subsidiaries, has been engaged in sales and hiring out of cranes and transport, mechanical and infrastructure engineering services and structural works, marine transportation, fabrication, up-slipping/launching of ship, process and industrial plant engineering works for the marine, and oil and gas industries.
The company has been reaching the targets of their growing pool of global customer based on the strong leadership and far-sighted vision of their management team.
Tiong Woon become a crane rental company of a various one-stop integrated service solution provider for heavy lift and haulage, process equipment installation and marine transportation. Tiong Woon becomes an only integrated services company in Asia which possesses heavy lift, heavy haulage, marine transport and a fabrication yard. Their yard elaborate on Oil & Gas offshore platform construction, marine vessel fabrication, repair services and heavy steel module fabrication, and becomes fully operational in 2006.
Summary of Chairman’s Statement
The main purpose of...