{
 "company": "Tiong Woon Corporation Holding Ltd",
 "ticker": "SGX:BQM",
 "source_page": "https://smidresearch.com/companies/tiong-woon/",
 "information_cutoff": "31 August 2026",
 "licence": "Public evidence-library figures as filed by the issuer and recomputed by SMID Research; cite the page and its information cut-off. No rating, fair value, price target or recommendation is included. Not investment advice.",
 "tables": [
  {
   "index": 1,
   "section": "FY2026 results: stronger activity and margin",
   "caption": "",
   "headers": [
    "S$m except per-share",
    "FY2024A",
    "FY2025A",
    "FY2026A"
   ],
   "rows": [
    [
     "Revenue",
     "143.1",
     "163.5",
     "187.7"
    ],
    [
     "Gross profit",
     "59.0",
     "61.4",
     "76.4"
    ],
    [
     "Gross margin",
     "41.2%",
     "37.6%",
     "40.7%"
    ],
    [
     "Profit attributable to owners",
     "18.2",
     "19.2",
     "23.9"
    ],
    [
     "EPS",
     "7.85c",
     "8.29c",
     "10.31c"
    ],
    [
     "Operating cash flow",
     "—",
     "51.4",
     "67.5"
    ],
    [
     "Cash PPE purchases",
     "—",
     "45.2",
     "23.8"
    ],
    [
     "Accounting PPE additions",
     "—",
     "65.5",
     "53.6"
    ],
    [
     "NAV per share",
     "S$1.33",
     "S$1.39",
     "S$1.47"
    ]
   ]
  },
  {
   "index": 2,
   "section": "One segment carries almost the whole group",
   "caption": "",
   "headers": [
    "FY2026",
    "External revenue",
    "Revenue share",
    "Segment result",
    "Segment assets",
    "Accounting capex"
   ],
   "rows": [
    [
     "Heavy Lift & Haulage",
     "S$179.585m",
     "95.7%",
     "S$33.406m",
     "S$502.833m",
     "S$53.173m"
    ],
    [
     "Marine Transportation",
     "S$2.588m",
     "1.4%",
     "S$0.825m",
     "S$3.886m",
     "S$0.377m"
    ],
    [
     "Trading",
     "S$5.503m",
     "2.9%",
     "S$0.251m",
     "S$1.308m",
     "—"
    ],
    [
     "Total",
     "S$187.676m",
     "100.0%",
     "S$34.482m",
     "S$508.027m",
     "S$53.550m"
    ]
   ]
  },
  {
   "index": 3,
   "section": "Debt and funding: strong group ratios, incomplete legal map",
   "caption": "",
   "headers": [
    "FY2026 group measure",
    "Amount or ratio",
    "What it says"
   ],
   "rows": [
    [
     "Cash equivalents",
     "S$84.668m",
     "Excludes pledged deposits"
    ],
    [
     "Current borrowings",
     "S$25.494m",
     "Group cash exceeds this reported balance"
    ],
    [
     "Total borrowings",
     "S$118.930m",
     "Current plus non-current"
    ],
    [
     "Secured borrowings",
     "S$107.983m / 90.8%",
     "Bank and other secured debt as a share of gross borrowings"
    ],
    [
     "Net debt",
     "S$34.262m",
     "Total borrowings less cash equivalents"
    ],
    [
     "Net debt / EBITDA",
     "about 0.49x",
     "Consolidated screening ratio"
    ],
    [
     "EBIT / finance expense",
     "about 8.8x",
     "Consolidated screening ratio"
    ]
   ]
  }
 ]
}