SINGAPORE (May 24): Yongnam's JV with Leighton Contractors was awarded a $553.8 million contract to design and construct the North-South Corridor, the 0.64km stretch of a tunnel between Kampong Java Road and Suffolk Walk.
See: Yongnam JV wins $554 mil contract for North-South Corridor project
With the latest order win, analyst Colin Tan of CGS-CIMB Securities estimates that Yongnam's order book now stands at $308 million, above its three-year average of $290 million, based on its 30% stake in the JV. An additional $50 million in strut works on top of the 30% of N103 contract value would bring its order book to $358 million.
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