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Publish Date : 28-Dec-2018

- Maiden foray into Australia with supply contracts for infrastructural developments in the State of Victoria;
- Structural steelwork contracts for an integrated community & sports facility in Sembawang and Changi Airport Terminal 1;
- Expected to be completed progressively between the first quarter of 2019 and 2021

Yongnam Holdings Limited ("Yongnam" or the "Group"), a well-established structural steel contractor and specialist civil engineering solutions provider, today announced that the Group has secured contracts worth S$73.4 million.

Yongnam marked its first foray into the Australian market with several specialist civil engineering contracts, supplying steel struts and strutting components for Temporary Earth Retaining Systems used in infrastructural developments in Melbourne, Victoria, Australia. The signing of the last Melbourne-based contract worth S$47 million is expected to be completed in January 2019.

In Singapore, Yongnam will supply, fabricate, deliver and erect structural steelwork for an Integrated Community & Sports Facility in Sembawang. Awarded by China Construction (South Pacific) Development Co. Pte Ltd, the contract is expected to be completed by the first quarter of 2020.

In a second structural steelwork contract, the Group will supply, fabricate, deliver and erect structural steelwork for the launching of 14 sets of fixed gangways for Changi Airport Terminal One Phase 4 Fixed Gangway. Awarded by PBT Engineering Pte Ltd, this contract is expected to be completed in 2021.

Mr Seow Soon Yong, Chief Executive Officer of Yongnam, said, "Yongnam is delighted to have made inroads into the Australian market with supply contracts for landmark infrastructure projects in Melbourne. This is testament to our specialist structural civil engineering expertise in the development of a modular system of steel strutting components to accommodate various project conditions underground."

"In addition, we are pleased to have been awarded two Singapore-based contracts from repeat customers to strengthen our order book. These contracts reinforce our partners' and clients' recognition of our capabilities and track record to deliver projects that meet their requirements," added Mr Seow.

These contracts are expected to have a positive impact on the Group's financial performance for the year ending December 31, 2018.

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