SINGAPORE (May 17): With the award of various contracts Yongnam Holdings is gunning for delayed, CGS-CIMB Securities is pushing back the expected turnaround date of the civil engineering and structural steelwork specialist.
In 1Q18, Yongnam reported a net loss of $4.6 million on the back of 41% y-o-y lower revenue of $54 million after substantial completion of Senoko Food Hub and Jewel Changi Airport projects at end FY17.
Projects involving structural steelwork that contributed during the quarter include Outram Community Hospital and Evonik plant in Jurong Island, while $19.1 million in specialist civil engineering revenue came from Thomson-East Coast Line and the Hong Kong MTR.
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