Yongnam : Secures Five Contracts Worth S$101.3 Million In Singapore And Hong Kong

YONGNAM HOLDINGS LIMITED

(Company Registration No. 199407612N)

(Incorporated in the Republic of Singapore on 19 October 1994)

NEWS RELEASE

YONGNAM SECURES FIVE CONTRACTS WORTH S$101.3 MILLION IN SINGAPORE AND HONG KONG

• Specialist civil engineering contracts for infrastructure developments in Singapore and Hong Kong

Singapore, December 17, 2019 - Yongnam Holdings Limited ("Yongnam" or the "Group"), a well-established structural steel contractor and specialist civil engineering solutions provider, today announced that the Group has secured five contracts worth S$101.3 million in Singapore and Hong Kong.

For the first and second specialist civil engineering contracts in Singapore, the Group secured subcontracts for the North-South Corridor project. For these subcontracts, the Group will design, supply, install, dismantle and remove the earth retaining systems for the construction of North-South Corridor and are expected to be completed in 2024.

For the third specialist civil engineering contract in Singapore, the Group will undertake the design, supply, installation, dismantling and removal of temporary earth retaining works for an infrastructural development on the eastern part of Singapore. This subcontract will be completed in 2023.

In Hong Kong, the Group secured two specialist civil engineering contracts. For the first contract, the Group will supply, install, dismantle and remove the earth retaining systems and traffic decking at Yau Ma Tei East. The contract is expected to be completed in November 2024.

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The second contract involves specialist civil engineering works for the Intermodal Transfer Terminal Building at the Hong Kong International Airport and is expected to be completed in 2021.

Mr Seow Soon Yong, Chief Executive Officer of Yongnam, said, "Such infrastructure megaprojects are crucial to the future of cities and we are pleased to participate in these developments both locally and abroad. These project wins also serve as a testament to Yongnam's reputation in delivering quality projects as well as the Group's proven capabilities in handling a wide range of technical and engineering challenges. Placing strong emphasis on the continuous delivery of our quality services, we will continue to strengthen our working relationship with both new and existing customers."

These contracts are expected to have a positive impact on the Group's financial performance for the year ending December 31, 2019.

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About Yongnam Holdings Limited

With more than 40 years of experience in steel fabrication, Yongnam excels in adding value to steel construction. The Group's two production facilities in Singapore and Nusajaya, Johor, Malaysia have a total annual production capacity of 84,000 tons of steel fabrication.

The Group utilises the latest fabrication technologies and design innovation to offer solutions to its clients on a fast-track basis. Yongnam's modular strutting system continues to give the Group a strong competitive edge in meeting increasingly more stringent design and project requirements in infrastructure and construction projects. With a traceability procedure that meets the requirements of the Singapore Building and Construction Authority ("BCA"), its modular strutting system is the first to be certified by an independent auditor for reusability in earth retaining or stabilising structures.

Yongnam's technical and value engineering solutions for steel fabrication and erection have resulted in increased productivity, improved yield and lower costs. The Group's in-house pool of experienced and qualified engineers, detailers, technicians, welders, riggers and fitters are consistently adding value to clients' projects.

Yongnam is an ISO-9001:2015, ISO 14001:2015, ISO 45001:2018 certified company and a certified manufacturer of CE-marked structural steelwork to EN 1090 and EN ISO 3834 for the highest execution class EXC4 for the EU market. Yongnam is also an accredited fabricator of the highest S1 category from the Singapore Structural Steel Society and holds A1 and A2 Grades from the BCA for the categories of General Building and Civil Engineering respectively.

The Group's Quality Management System takes a planned approach towards continuous improvement of its products, processes and services. Yongnam has also achieved a bizSAFE Star Level award and BCA Green and Gracious Builder award.

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Moving forward, Yongnam aims to be the partner of choice in providing solutions for the steel construction industry.

ISSUED ON BEHALF OF	:	Yongnam Holdings Limited
BY	:	Citigate Dewe Rogerson Singapore Pte Ltd
		105 Cecil Street
		#09-01 The Octagon
		SINGAPORE 069534
CONTACT	:	Ms Chia Hui Kheng
		at telephone
DURING OFFICE HOURS :	6534-5122
EMAIL	:	[e-mail]
December 17, 2019

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