Hiap Tong unit awarded five-year extension to lifting services contract with ExxonMobil

CRANE specialist Hiap Tong Corporation on Tuesday said that its wholly owned subsidiary, Hiap Tong Crane & Transport, was awarded a five-year extension lifting services contract by oil and gas company, ExxonMobil Asia Pacific.

The extension was in effect since Jan 1, 2018 and is similar to Hiap Tong's previous contract with the oil major, which ran between Jan 1, 2013 to Dec 31, 2017.

With the contract, the Hiap Tong subsidiary will continue with the "provision of crane rental and/or lifting services work to ExxonMobil and/or its affiliates at ExxonMobil's Jurong Refinery, Pulau Ayer Chawan and Singapore Chemical Plant in Singapore", the company said in a filing with the Singapore Exchange (SGX) after the market closed.

Hiap Tong shares, which are thinly traded on SGX, last traded on 27 Dec at S$0.111.