The Board of Directors of Tiong Woon Corporation Holding Ltd (the "Company" or “TWC”) is pleased to announce that its wholly owned subsidiary, Tiong Woon Oil & Gas Services Pte Ltd (“TWOG”) has signed a shipbuilding contract for a provisional sum of S$64.8 million with Norce Offshore Pte Ltd (“NOPL”) for the construction of one unit of derrick pipelay barge (“Vessel”) to be delivered in December 2008.
$64.8m is about 65% of their revenue for their 2007 full year results! Oh, Yeah!