Singapore-based Yongnam Holdings, a provider of engineering and construction services, on Wednesday said it secured three new contracts worth a total of S$70 million.
Yongnam, which has production facilities in Singapore and Malaysia, said two of the 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, it said in a statement.
The project is expected to commence in the fourth quarter of 2017, and is targeted for completion in 2019.
The second project in Singapore, awarded by Penta-Ocean Construction Co., involves 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.
The construction work is expected to complete by the second quarter of 2018.
These contracts are expected to have a positive impact on the Group's financial performance for the year ending 31 December 2017 and 31 December 2018, the company said.
Earlier thsi year, the company won four contracts worth S$36.2 million from private and public sector clients in Singapore.
Shares in Yongnam closed unchanged at S$0.30 on the Singapore Exchange. The stock has gained 52 percent so far this year.
