Yongnam Holdings secures new contracts worth S$70 million

Artist's impression of Woodlands Health Campus that is expected to be completed by the second quarter of 2018.
Artist's impression of Woodlands Health Campus that is expected to be completed by the second quarter of 2018. PHOTO: ALEXANDRA HEALTH SYSTEM

SINGAPORE - Engineering and construction services provider Yongnam Holdings has secured three new contracts worth a total of S$70 million, two in Singapore and the third in Myanmar.

One of the contracts in Singapore, awarded by Kimly Construction, involves the supply, fabrication and installation of structural steelwork for the JTC Logistics Hub @ Gul. The project is expected to commence in the fourth quarter, and is targeted for completion in 2019.

The second project in Singapore, awarded by Penta-Ocean Construction, involves the supply, fabrication and delivery of king posts as well as the supply and installation of steel struts for the Woodlands Health Campus. The work is expected to be completed by the second quarter of 2018.

For the Myanmar contract, Yongnam is engaged as the main contractor for building works required for the extension of a factory for Japan Tobacco International. Construction is expected to be completed by the second quarter of 2018.

These contracts are expected to have a positive impact on the Yongnam's financial performance for the year ending December 31, 2017 and Dec 31, 2018.