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Yongnam secures 4 contracts worth S$53.4m

STEEL contractor and specialist civil engineering solutions provider Yongnam Holdings on Thursday announced that the group has secured four Singapore-based contracts worth S$53.4 million.

The first contract that the group will undertake is the design and build of a four-storey regional headquarters with mezzanine offices and a two-storey production facility for AAC Optics Solutions, located at the Tampines Wafer Fab Park at Tampines Industrial Crescent.

The main contract works will include full design consultancy as well as civil & structural, architectural and mechanical & electrical works, which are expected to be completed by the first quarter of 2020.

For the second project awarded by Dragages Singapore, Yongnam will supply, fabricate, deliver and erect structural steel composite columns for the development of a 51-storey integrated development located in the Central Business District. It is expected to be completed by the second quarter of 2019.

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Another project involves the supply, fabrication, delivery and erection of structural steelwork for a nine-storey light industrial and commercial building for JTC Corporation at the junction of Woodlands Avenues 4 and 9, awarded by Lum Chang Building Contractors.

The final project is a seven-storey Health Campus comprising a community hospital, outpatient clinics and nursing homes located at Woodlands Drive 17 and Woodlands Avenue 12, awarded by SDK Consortium, comprising Ssangyong, Daewoo and Koh Brothers. Both projects are expected to be completed by the third quarter of 2019.

Seow Soon Yong, CEO of Yongnam, said: "These contracts are part of a series of contracts secured year-to-date which have allowed the group to further strengthen our order book."

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