Yongnam bags S$88 mln contract
Posted by luxuryasiahome on December 2, 2008
Yongnam Holdings on Tuesday said that it has won a S$88 million contract for the construction of the Integrated Civic, Cultural, Retail and Entertainment Hub at Vista Xchange at one-north.
The a 200-hectare project at Buona Vista is being jointly developed by CapitaLand and New Creation Church’s Rock Productions. The entire hub is expected to cost some $976.3 million.
Yongnam will be involved in the construction of the integrated hub and will supply, fabricate, deliver and erect structural steelworks for the building structure. The project will commence at end of this year and is expected to be completed by January 2011, Yongnam said.
The contract is not expected to have any material impact on the group’s financial performance for the financial year ending December 31, 2008, Yongnam said.
Currently, Yongnam is also engaged in several other local and regional mega projects, including the Marina Bay Sands Integrated Resort, the Dubai Metro and the Delhi International Airport. Adding on Yongnam’s recent contract win from the Marina Bay Sands Integrated Resort, Yongnam has increased its current order book by S$111.8 million, it said.
Yongnam shares gained 0.5 cent to close at 7.5 cents today.
Source : Business Times – 2 Dec 2008
