Yongnam bags two contracts worth S$29.6m

STRUCTURAL steel contractor Yongnam Holdings has secured two contracts worth a combined S$29.6 million in Singapore and Hong Kong.

One contract, awarded by Vanguard Properties, will see Yongnam engaged in the design, engineering and project management of a new six-storey light industrial development in Kallang, mainboard-listed Yongnam said in a Singapore Exchange filing on Monday.

The Kallang project is slated for completion in June 2017.

Meanwhile, the other contract, awarded by China Road and Bridge Corporation and slated for completion by end-2018, involves the design, supply, installation and dismantling of an underground excavation and lateral support system to support infrastructure works for the East-West express link between West Kowloon and Tseung Kwan O in Hong Kong.

Said Yongnam chief executive Seow Soon Yong: "The delivery timings for both projects are critical, with challenging requirements and specifications that will certainly leverage our capabilities and know-how as a steel and construction specialist."

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