Yongnam secures subcontract for construction at Changi Airport Terminal 4

Yongnam just announced they have secured S$54.3 million in subcontracts for structural steelworks. One of the contracts was for the construction of structural steelworks for the new Changi Airport Terminal 4. Yes, Changi Airport is building the fourth terminal. Sounds like a big project? I'm glad Yongnam is part of it. Another project was for the redevelopment of the UIC Building along Shenton Way. Both projects are expected to complete in 2017.

Credits: www.changiairport.com

This sounds like good news to me. Indeed Yongnam's good reputation has secured them another grand contract in Singapore. More contracts are expected to come.

As quoted from Yongnam's news release a few hours ago:

"Mr Seow Soon Yong, Chief Executive Officer of Yongnam said, “We are delighted to have secured these two subcontracts in such quick succession and this is testament to the faith that our main contractors have in us. Over the years, we have played key roles in building our cityscape and we look to continue to capitalise on our experience and track records in shaping Singapore’s future developments.”

"The subcontracts are expected to have a favourable impact on the Group’s financial performance for the year ending December 31, 2014." 

New release Source: http://infopub.sgx.com/FileOpen/YHL-News_Release-17_Mar_2014.ashx?App=Announcement&FileID=288809 

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