Yongnam wins contracts worth S$49.5m in Singapore and Hong Kong

SINGAPORE - Mainboard-listed Yongnam Holdings has secured two contracts worth a combined S$49.5 million, the company announced on Monday (March 21).

The two projects comprise a structural steelwork sub-contract for the proposed 19-storey mixed-use development housing the future Outram Community Hospital in Singapore, and a specialist civil engineering sub-contract for the Hong Kong MTR Shatin to Central Line Cross Harbour Tunnel.

The latest contract wins boosts Yongnam's order book to S$119.3 million worth of new projects so far this year.

In February, the company said it had secured four contracts worth a total of S$69.8 million in Singapore and the Middle East.

Said Mr Seow Soon Yong, chief executive officer of Yongnam: "We are encouraged by the order momentum year to-date, with six contracts announced in quick succession. We are actively pursuing several infrastructural developments and commercial projects in Singapore and the region and look forward to garnering new opportunities in the year ahead."

The latest two contracts are expected to have a positive impact on the group's financial performance for the year ending Dec 31, said Yongnam.