CFA Institute Singapore
SINGAPORE (June 6): Engineering and construction firm Yongnam has secured two contracts worth $29.6 million for projects in Singapore and Hong Kong.
The first is awarded by Vanguard Properties for sites on 1 & 3 Kallang Junction.
Yongnam will design and build a new six-storey light industrial development with industrial canteen and basement car park. It will also alter an existing five-storey light industrial development.
The project is expected to be completed by the middle of next year.
The second contract came from China Road and Bridge Corporation for works on an underground excavation and lateral support system in Hong Kong.
The project starts in August and is slated for completion by end 2018.
Both projects are expected to positively impact its financial results for FY2016 ending Dec.
Yongnam ended 8.6% lower at 26.5 cents on Monday.