Tiong Woon's Q2 profit down; Sin Heng's earnings up

Singapore

TWO crane rental and trading companies on Thursday reported results that took them in two different directions, even as one warned of difficult times ahead with the fall in oil prices.

Tiong Woon Corporation posted a 57 per cent fall in net profit for its fiscal second quarter that reflected an absence of a one-off gain from the sale of two subsidiaries that was completed in October 2013.