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Yongnam bags three contracts worth S$70m

STRUCTURAL steel contractor Yongnam Holdings has secured three new contracts worth S$70million in all.

Two contracts are based in Singapore. One is awarded by Kimly Construction for the supply, fabrication and installation of structural steelwork for the JTC Logistics Hub @ Gul. The project will start in the fourth quarter of this year and is targeted for completion in 2019.

The second project in Singapore was awarded by Penta-Ocean Construction, for the supply, fabrication and delivery of King Posts as well as the supply and installation of steel struts for the Woodlands Health Campus. This is expected to be completed by the second quarter of next year.

The third one is secured in Myanmar, where Yongnam will be the main contractor to build the extension of a factory for Japan Tobacco International. Construction works there are expected to end by the second quarter of next year.

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These contracts are expected to have a positive impact on the group's financial performance for 2017 and 2018 financial years.