0510 GMT - Tiong Woon Corp. stands to benefit from various projects in Asia, CGS International's Natalie Ong says in a research report. These include S$39 billion-S$46 billion of contracts to be awarded each year over 2026-2029 in Singapore, the analyst notes. As of end-2025, contracts for superstructure work for Changi Airport Terminal 5 and Marina Bay Sands Integrated Resort 2 haven't been tendered or awarded. A majority of heavy lift and hauling services relates to above-ground or superstructure work that occurs after foundation and substructure work is mostly completed. The brokerage initiates coverage of the heavy lift specialist and service provider with an add rating and a target price of S$1.23. Shares are 1.6% higher at S$0.93. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 19, 2026 00:10 ET (05:10 GMT)
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