Yongnam Unit Signs Novation Agreements With Aztec Steel for Three Singapore Projects

MT Newswires06-07

Yongnam Holdings' (SGX:AXB) wholly-owned subsidiary, Yongnam Engineering & Construction, entered into novation agreements with Aztech Steel to appoint the latter as the sub-contractor for three Singapore projects with Penta-Ocean Construction, according to multiple Thursday filings with the Singapore bourse.

The projects are for structural steel-related works for the Immigration and Checkpoints Authority's building, the construction of elective care and national dental centers at the Second Hospital Avenue (Bukit Merah), and the construction of stations, tunnels, and the CIQ Complex for the Rapid Transit System Link.

Under the novation agreements, Aztec Steel will be responsible for all duties, obligations, and liabilities under the sub-contract with Penta-Ocean Construction, the main contractor, the filing said.

Yongnam is under judicial management, as per the filings.

Price (SGD): S$0.03, Change: S$, Percent Change: %

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