Still shedding assets but worst is over: Tat Hong CEO

Singapore

CRANE supplier Tat Hong Holdings is still selling assets but the worst is over, chief executive officer Roland Ng told The Business Times on Monday over the phone. "It's turning around, but we don't expect to have a very big gain," he said.

There are more maintenance jobs for the oil and gas sector in a key market Australia, and some infrastructure projects from the government there. In Singapore, rental rates are up 5 per cent from the lows in 2016. Overall, crane utilisation rates for its crane rental division are close to 60 per cent, up from below 50 per cent a year ago.