Yongnam obtains 5 contracts worth S$121 million

Singapore 50 dollar bill

Civil engineering firm Yongnam Holdings has obtained five contracts worth S$120.8 million across Singapore, Hong Kong and India, the company said in a filing to SGX Thursday.

In Singapore, Yongnam won a specialist civil engineering job as a subcontract for the North-South Corridor project from its 30 percent-owned joint venture with CIMIC Group’s Leighton Asia, the filing said.

Under the sub-contract, the group will supply, install and dismantle temporary earth retaining systems for the construction of the North-South corridor tunnel between Kampong Java Road and Suffolk Walk, it said.

The subcontract is expected to begin in the second half of this year and be completed within 36 months, it said.

In addition, Yongnam said it obtained a specialist civil engineering contract in Singapore to design, supply, install and dismantle temporary earth retaining works for an infrastructure development in the city-state’s east.

The subcontract will begin in July and be completed over 24 months, it said.

Yongnam also won a third project in Singapore to cover supply, fabrication and erection of structural steelwork for a new single-user factory, with the contract set to be completed in the second quarter of 2020.

In Hong Kong, Yongnam said it obtained a contract for specialist civil engineering works for the Tseung Kwan O – Lam Tin Tunnel Road P2 and associated works.

The contract is for the supply, fabrication, delivery, installation and dismantling of walings and struts for reinforced concrete structural works of the U-Trough and P2 underpass in the reclamation area, Yongnam said, adding the contract begins in August and will be completed over 36 months.

In India, Yongnam said it won a contract from repeat customer Larsen & Toubro to supply, fabricate and install structural steelwork for the roof of Kempegowda International Airport Terminal 2 in Bangalore.

The project is expected to start int he second half of this year and be finished within 12 months, Yongnam said.

The contracts are expected to hafve a positive impact on Yongnam’s financial performance in the current year, the company said.

 

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