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Yongnam kept at 'add' by RHB on likely profit turnaround in FY19

PC Lee
PC Lee1/7/2019 01:32 PM GMT+08  • 2 min read
Yongnam kept at 'add' by RHB on likely profit turnaround in FY19
SINGAPORE (Jan 7): RHB Research is maintaining Yongnam at “add” saying steel fabrication and engineering specialist could achieve a profit turnaround in FY19F given a slew of major orders secured last year.
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SINGAPORE (Jan 7): RHB Research is maintaining Yongnam at “add” saying steel fabrication and engineering specialist could achieve a profit turnaround in FY19F given a slew of major orders secured last year.

Except for one contract for the North-South Corridor (NSC) project, Singapore’s Land Transport Authority had already awarded the remaining 10 contracts with six given out last month to various firms.

“We believe Yongnam could still win strutting works as a subcontractor for these NSC sections, which could fuel further profit growth in FY19-20F,” says RHB lead analyst Colin Tan in a Monday report.

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