Yongnam Holdings hammers out S$21.3m steel deal

Malaysian subsidiary to deliver 7,000-tonne structural steel load  to a German outfit.

Yongnam Holdings Limited (“Yongnam” or the “Group”) has secured a significant project worth S$21.3 million to supply, fabricate, surface-treat and deliver 7,000 tonnes of structural steel for a belt conveyor structure for German company, Beumer Maschinenfabrik GmbH & Co. KG (“Beumer Group”) in Lumut, State of Perak, Malaysia.

This is the Group’s first significant project in Malaysia since its last major project at Tanjung Bin Power Plant in 2005, and will be undertaken by the Group’s wholly-owned Malaysian subsidiary, Yongnam Engineering Sdn Bhd.

Commented Mr Seow Soon Yong, Chief Executive Officer of Yongnam: “We believe this contract signals the re-opening of an old market which has the potential to provide a stream of new contracts for the Group as we continue to diversify our markets.”