Yongnam Holdings, on March 5, announced that it has secured contracts totalling $32.8 million comprising four specialist civil engineering contracts and a structural steelwork contract.

The steelwork contract will involve the supply, fabrication, and installation of structural steelwork for the construction of a new annexe at the Immigration & Checkpoints Authority (ICA) Building in Singapore. Work is expected to be completed by the end of 2022.

For the specialist civil engineering contracts, three were secured for Singapore projects.

The first contract is for temporary steel bridge works for the construction of an integrated train testing centre to be built in Tuas, which is expected to be completed in the second half of 2023. 

The second contract is for the construction, completion and maintenance of steel struts, soldier piles and king posts for the Bulim Square development located in the upcoming Jurong Innovation District. The expected completion will take place during the first half of 2023.

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The third contract relates to excavation works for a development in the eastern part of Singapore. The contract is expected to be completed in the second half of 2022.

The remaining specialist civil engineering contract was secured for a project in Hong Kong. Yongnam will be responsible for the design, supply and dismantling of excavation and lateral support works in relation to tunnel and road works connecting the Central Kowloon Route to the Tseung Kwan O-Lam Tin Tunnel. The contract is expected to be completed in the second half of 2022.

Seow Soon Yong, CEO of Yongnam, says that the contracts mark a gradual resumption of work in the construction sector following Phase 3 of Singapore’s reopening.

“Backed by our strong operating track record and technical expertise, we are optimistic that our recent contract wins, both in Singapore and in Hong Kong, will help strengthen our order book,” he adds.

As at 1.08pm, shares in Yongnam are trading up 0.5 cents or 6.2% at 8.6 cents.