Singapore, July 20, 2020 - Yongnam Holdings Limited (Yongnam) announced that its 40%-owned joint venture with Daewoo Engineering & Construction Co., Ltd. (Daewoo E&C) has clinched a SGD 320.4 million design and build contract for Jurong Region Line. Daewoo E&C, a leading international construction company, is listed on the Korea Stock Exchange. Awarded by the Land Transport Authority, the J109 contract works include the design and construction of Toh Guan Station, Jurong Town Hall Station, Pandan Reservoir Station and associated entrances, as well as a 3600 metres elevated viaduct. This contract is expected to commence later this year. The 24km-long Jurong Region Line is Singapore's seventh MRT line, and is the first fully elevated line without any underground stations. The Jurong Region Line will significantly improve connectivity of the region and support the development of the Jurong area, which is set to be the largest commercial hub outside the Central Business District. Yongnam's strong technical expertise and capabilities as an established structural steel contractor and specialist civil engineering solutions provider have enabled to add value to customers and partner them for major infrastructure works projects. Yongnam had earlier won the SGD 553.8 million design and construction contract for the North-South Corridor project through joint venture partner Leighton Asia in 2018. The Group will continue to actively participate in bidding for various major public sector infrastructure projects as well as commercial projects in Singapore, Hong Kong and Australia to strengthen order book. This contract award is expected to have a positive impact on the Group's financial performance for the year ending December 31, 2020.