From the official website, SinHeng under Corporate Profile, it mentions:
We are a leading heavy lifting services provider in Singapore. We focus on the mid-to-high lifting capacity segment and serve mainly customers in the infrastructure and geotechnic, construction, offshore and marine, oil and gas industries.
Our core business activities are the equipment rental business involving the rental of cranes and aerial lifts and the trading business involving the trading of new and used cranes and aerial lifts. We also undertake sales and distribution of spare parts for cranes and aerial lifts.
As part of our equipment rental business, we also undertake turnkey project engineering services which are currently being carried out mainly in Singapore.
We own a fleet of cranes with mid-to-high lifting capacity, comprising crawler cranes, all terrain cranes, truck cranes and rough terrain cranes, and aerial lifts, comprising boom lifts and scissor lifts. Within our fleet, our cranes have up to 500 ton lifting capacity and our aerial lifts can access heights of up to 45.7 metres.
Interesting. And equally impressive is (from Business Times): "For the fiscal year 2009, the group generated S$136.99 million in revenue and S$21.98 million in profits. For 2008, revenue was S$131.83 million an net profit was S$17.16 million.".
Homegrown heavy lifting service provider Sin Heng Heavy Machinery plans to raise net proceeds of S$21.6 million in an initial public offering in Singapore.
It plans to list on Singapore Exchange's mainboard and is offering 168 million new shares at 26 cents each.
Sin Heng is one of the leading heavy lifting service providers in Singapore, with a strong focus on the mid to high lifting capacity segment.
The group's fleet of cranes is generally deployed for larger projects to carry out heavy lifting work.
The company is currently involved in prominent projects such as the Marina Bay integrated resort, Resorts World Sentosa, Marina Bay Financial Centre and the Marina Coastal Expressway.
Sin Heng plans to use the main bulk of the net proceeds to expand equipment rental fleets in Singapore, Malaysia and Vietnam.
From Channel NewsAsia, "Sin Heng plans to raise S$21.6m in net proceeds in IPO".
Sin Heng Heavy Machinery Limited, one of the leading heavy lifting service providers in Singapore, on Monday offered 168 million shares for mainboard listing at 26 cents each in its initial public offer (IPO).
The shares comprised 88 million new shares and 80 million vendor shares.
Of these, 9.6 million shares will be offered for public subscription, and the rest will be placed out.
The invitation will be open from January 26, 2010 and close on February 1, 2010.
The net proceeds from the issue of new shares is estimated at S$21.6 million. This will be used in part to fund the renewal and expansion of its equipment rental fleet in Singapore, Malaysia and Vietnam.
The estimated net proceeds of S$18.8 million attributable to the vendor will be used mainly to partially repay the Leverage Loan.
For the fiscal year 2009, the group generated S$136.99 million in revenue and S$21.98 million in profits. For 2008, revenue was S$131.83 million an net profit was S$17.16 million.
From Business Times, "Sin Heng Heavy Machinery offers 168 mln shares at 26 cts each for mainboard listing".
