That is why the size of the contracts is below market expectations.
Perhaps, it will correct a little, and if there are bigger contracts along the way, YongNam will surely take-off again.
Good to know they have some kind of a foothold in Myanmar, which hopefully will win more projects in the developing country. Singapore, by contrast is already saturated, and stagnant, maybe sunset.
MichaelSchenker ( Date: 31-Aug-2017 15:48) Posted:
I believe market watchers are expecting something bigger than this 70mil contract.
cheng987 ( Date: 31-Aug-2017 12:50) Posted:
| Yongnam announced so good news why can' t Cheong. |
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I think someone already know to announce good news so they buy at cheap at 0.25 to 0.280 range. After news announced then they take profit now. Stock matket is like that. Who hv insider news then who will win. I believe after profit taking it will move up again
In june won 30m contract.
In aug won 70m contract
Total 100m
How about sept, oct, nov, dec?
Why not tml go up to 0.35. Next week pull back to 0.30. Don't think will fall below 0.30 again now onward. 0.30 will be botttom.
Hope this announcement answer your question, though I guess there are more to the recent run-up other than these 3 contracts.
http://infopub.sgx.com/FileOpen/YHL_News%20Release.ashx?App=Announcement& FileID=469079
NEWS RELEASE
Page 1 of 5
YONGNAM HOLDINGS LIMITED
(Company Registration No. 199407612N)
(Incorporated in the Republic of Singapore on 19 October 1994)
YONGNAM SECURES THREE CONTRACTS WORTH S$70 MILLION FOR
PROJECTS IN SINGAPORE AND MYANMAR
-
Structural steelwork contract for JTC Logistics Hub
-
Supply of king posts and strutting works for Woodlands Health Campus
-
Main building works for extension of factory for Japan Tobacco
International in Myanmar
-
All projects are expected to be completed between 2018- 2019
Singapore, August 30, 2017 &ndash Yongnam Holdings Limited (
&ldquo Yongnam&rdquo or the
&ldquo Group&rdquo ), a well-established structural steel contractor and specialist civil
engineering solutions provider, has secured three new contracts worth a total of
S$70 million. Two of these contracts are based in Singapore while the third is in
Myanmar.
One of the two contracts secured in Singapore, awarded by Kimly Construction Pte
Ltd, involves the supply, fabrication and installation of structural steelwork for the
JTC Logistics Hub @ Gul. The project is expected to commence in the fourth quarter
of 2017, and is targeted for completion in 2019.
As for the second project in Singapore, awarded by Penta-Ocean Construction Co.,
Ltd, the Group will be supplying, fabricating and delivering King Posts as well as
supplying and installing steel struts for the Woodlands Health Campus. The work is
expected to be completed by the second quarter of 2018.
Under the contract from Myanmar, Yongnam is engaged as the main contractor for
building works required for the extension of factory for Japan Tobacco International.
Construction works are expected to complete by second quarter of 2018.
Page 2 of 3
Mr Seow Soon Yong, Chief Executive Officer of Yongnam, said, &ldquo These latest wins
underscore our continued efforts and commitment to grow our order book despite the
challenging operating environment. Also, the project in Myanmar is our second in the
country to-date, demonstrating the good progress we have made in establishing a
foothold since the award of our first smaller scale project in the same year.
These contracts are expected to have a positive impact on the Group&rsquo s financial
performance for the year ending 31 December 2017 and 31 December 2018.
Earlier in June 2017, the Group secured four contracts worth S$36.2 million from
private and public sector clients in Singapore. These contracts include two Structural
Steelwork and two Specialist Civil Engineering projects.
About Yongnam Holdings Limited
With more than 40 years of experience in steel fabrication, Yongnam excels in
adding value to steel construction. The Group&rsquo s two production facilities in Singapore
and Nusajaya, Johor, Malaysia have a total annual production capacity of 84,000
tons of steel fabrication.
The Group utilises the latest fabrication technologies and design innovation to offer
solutions to its clients on a fast-track basis. Yongnam&rsquo s modular strutting system
continues to give the Group a strong competitive edge in meeting increasingly more
stringent design and project requirements in infrastructure and construction projects.
With a traceability procedure that meets the requirements of the Singapore Building
and Construction Authority (&ldquo BCA&rdquo ), its modular strutting system is the first to be
certified by an independent auditor for reusability in earth retaining or stabilising
structures.
Yongnam&rsquo s technical and value engineering solutions for steel fabrication and
erection have resulted in increased productivity, improved yield and lower costs. The
Page 3 of 3
Group&rsquo s in-house pool of experienced and qualified engineers, detailers, technicians,
welders, riggers and fitters are consistently adding value to clients&rsquo projects.
Yongnam is an ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 certified
company, accredited fabricator of the highest S1 category from the Singapore
Structural Steel Society and holds A1 Grades from the BCA for the categories of
General Building and Civil Engineering. The Group&rsquo s Quality Management System
takes a planned approach towards continuous improvement of its products,
processes and services. Yongnam has also achieved a bizSAFE Star Level award
and BCA Green and Gracious Builder award.
Yongnam aims to be the partner of choice in providing solutions for the steel
construction industry.
ISSUED ON BEHALF OF : Yongnam Holdings Limited
BY : Citigate Dewe Rogerson
55 Market Street
#02-01
SINGAPORE 048941
CONTACT : Mr Winston Choo / Ms Carol Chong
at telephone
DURING OFFICE HOURS : 6534-5122
EMAIL :
[email protected] /
[email protected]
August 30, 2017
explosive2013 ( Date: 28-Aug-2017 22:14) Posted:
| Why Myanmar play?. YongNam is not related to Myanmer, right? |
|
Mkt dept shows not much sell vol all the way....... ripe for sneak attack.........Charge!
Yongnam was the consortium who own the Myammar Airport project. Looks like now the market is voting that yongnam will win at least one of the 886 or 821A LTA contracts....., 230mil and 1.2bil respectively...... bee tang lieow!......DYODD
Why Myanmar play?. YongNam is not related to Myanmer, right?
Already reached 30 cents today..
Those who witnessed the Myanmar play, some years ago will know how high this stock will shoot. Of course, must know when to run if the situation turns.
30 cents is still a good bet.
The 886 consortium is made up of private but experienced local contractors. Chye Joo and Hwa Seng frequently bids for LTA projects. Ho Lee is also an old name although I think they do more general building.
Large bid differences for mega-contracts are not uncommon. e.g. In the tender for the new ERP system, ST Electronics bid $1.26 bil vs the only other bid from a MHI consortium of $500m+. If nothing happens, no one will say anything. But if all our ERPs got hacked in future, then maybe everyone would retrospectively point out that LTA again took the lowest by far bid. On the other hand, If LTA picks ST electronics and something happens, I can see LTA being accused of favouring ST Electronics even when their bid is so much higher and people will start asking why public money is being wasted by awarding to the higher bidder. You can' t win in this kind of situation if you are LTA. :P
866 contract size ~S$230mil, 821 contract size ~S$1200mil.......if tio.....bee tang lieow.
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481-500 of 611
........ think better throw dice to decide.... than can say this is fate....... haha.