by Cheryl Tay
Yongnam Holdings has secured three deals valued at S$63.8 million, comprising one specialist civil engineering contract in Hong Kong and two structural steelworks contracts in Singapore.
The Singapore-based sub-contract packages are for the fabrication, supply, surface-treating, erection and delivery of structural steelworks.
For the first project in Singapore, Yongnam will support Takenaka Corporation in constructing a new 40-storey commercial development on Market Street (pictured).
The development will feature a vertical garden concept and Yongnam will install beams and precast columns, as well as provide 7,600 tonnes of structural steel. The project is set to be completed in 2013.
The second development, which is expected to be completed by 2014, will be a revamp of a shopping mall in the Marina Bay area.
With Samsung C&T Corporation as the main contractor, Yongnam will provide 3,450 tonnes of structural steel for the construction.
"We are honoured to be involved in the construction of the prestigious Market Street commercial development, as well as contributing to the enhancement and revival of a major shopping mall at Marina Bay, which is expected to bring a sense of renewal and add vigour to the local retail, dining and entertainment scene in Singapore," said Seow Soon Yong, CEO of Yongman.
For the third deal, Yongnam will undertake the design, supply, erection and the removal of walers and struts between the diaphragm walls at East Ventilation Building and Cut-&-Cover Tunnel for the Hong Kong Express. The development is expected to be completed by mid-2016.
All three contracts are expected to boost the financial performance of Yongnam for the year ending 31 December 2012.
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