Yongnam   

Yong nam

already ppl queue buy at 0.185.....congrats to those vested...this counter gonna fly soon...

 

YONGNAM HOLDINGS LIMITED

(Company Registration No: 199407612N)

SGX?S QUERIES REGARDING THE BUSINESS TIMES ARTICLE DATED

12 DECEMBER 2006 ON ?YONGNAM SEES ORDER BOOK TRIPLING NEXT YEAR"

The Board of Directors of Yongnam Holdings Limited (the ?Company?) refers to the Business

Times article dated 12 December 2006. In the article, various statements were made by the

Chief Executive Office, Mr. Seow Soon Yong (?Mr. Seow?). The Company wishes to clarify the

following queries raised by the Singapore Stock Exchange Securities Trading Limited in its email

of 12 December 2006 as follows:

SGX query 1 : ?Order book should triple next year due to several big infrastructure

projects in the city-state and the Middle East.?

Yongnam?s response : In the interview with Reuters, Mr. Seow stated that he expects to add

new orders of up to $250 million annually for the next three years.

However, this does not imply and should not be construed that the

order book should triple in size next year.

SGX query 2 : ?Yongnam?s intention to move into the Middle East.?

SGX query 5 : ?Expects Middle East to contribute about 25% in the Group?s revenue

in 2007 and more than 45% of the revenue by 2011.?

Yongnam?s response : As stated in Yongnam?s Half Year Statement Announcement made on

10 August 2006, the Group has commenced a new project valued at

$4 million in Dubai and was actively pursuing new business

opportunities in the Middle East. In the interview, Mr. Seow reaffirmed

the Group?s strategy and that the Group is currently pursuing various

projects in the Middle East. Based on current negotiations, Mr. Seow is

cautiously optimistic that the Middle East would contribute about 25%

of the Group?s revenue in 2007 and 45% by 2011.

SGX query 3 : ?Expects to add new orders of up to $250 million annually for the next

three years.?

SGX query 4 : ?Turnover would rise by 50% in 2006 and by about 20% annually in the

next 2 years.?

Yongnam?s response : In Yongnam?s commentary on paragraph 10 of the Half Year

Statement Announcement made on 10 August 2006,

Yongnam stated that ?the economic outlook for the Group looks

promising? and that ?the Group?s order book currently stands at a new

record high of $150 million?.

The Group?s turnover for Financial Year Ended 31 December 2005

was $81.4 million and for Half Year Ended 30 June 2006 was $72.8

million. Mr. Seow at the interview confirmed that turnover for Financial

Year Ending 2006 would rise by 50% or thereabout (i.e. $122.1

million). Based on the promising economic outlook, the order book and

current negotiations, Mr. Seow was also optimistic that turnover would

rise by 20% annually in the next 2 years.

 

hmm...just read the announcements. Nothing v much to shout about ..basically just repeating what is already stated in the business times.

 

YAHOO, the good news worth waiting FOR!! check the new announcement at SGX! Lucky didn't sell away my lots. 0.2 forecast seem not distance away.....! GOOD LUCK FOR ALL Yongnam Loyal holders!

 

Same  for Sapphire  too   Halt!  Do you all know what is brewwing!!!!!

 

if you know before SGX, that's insider info. hahaha. sssshh

 

Hi guys, any ideal when will the announcement make? Where can we get the announcement infor 1st hand before the sgx.com?

From the way i view, especially after the IR announcement. Likely, its a gd news after the reuter report below. New Height, 0.15 just for today?

 

cashier, maybe the directors needed some $ for christmas presents. hahaha...just kidding.

 

In this case, it should be great news coming !!!

 

hey thanks.

now it confused me.. why is the directors selling shares?

 

article from Business Times:

Yongnam sees order book tripling next year

SINGAPORE construction and engineering firm Yongnam Holdings said its order book should triple in size next year due to several big infrastructure projects in the city-state and the Middle East.

'Yongnam wants to win contracts for the construction of Singapore's two casinos and also in the Middle East.'

- Mr Seow,Yongnam CEO

Yongnam wants to win bigger deals at home and abroad, including contracts for the construction of Singapore's two casinos - expected to cost up to US$6.6 billion - and for property development in the Middle East, chief executive officer Seow Soon Yong told Reuters in an interview yesterday.

'I have to spread my wings to the Middle East, I see 10 years of growth in infrastructure and building construction there,' Mr Seow said. 'There are so many high-rise buildings coming up in Qatar and Dubai now.'

Yongnam, whose order book currently stands at a record $150 million, expects to add new orders of up to $250 million annually for the next three years.

The firm reported a sharp drop in net profit to $1 million in 2005, from $7.2 million in the previous year when its profit was lifted by exceptional gains.

However, revenue from construction projects rose 28 per cent to $81.5 million in 2005. Mr Seow said turnover would rise by 50 per cent in 2006, and would grow by about 20 per cent annually in the next two years.

Yongnam, founded in 1971 as a mechanical engineering firm with just five site workers, has grown into an engineering and construction company with 1,150 employees.

It built the steel columns and framework for the main terminal in Bangkok's new Suvarnabhumi Airport, and provided temporary steel supporting systems for the construction of many underground subway tunnels in Singapore.

While Singapore accounts for some 70 per cent of revenues with the rest coming from Thailand and Malaysia, Mr Seow said the Middle East would account for an increasing proportion.

Yongnam recently won its first contract in the Middle East with a railway project in Dubai, worth $4 million initially. But Mr Seow said he expects the Middle East to contribute about 25 per cent in the group's revenue in 2007, and more than 45 per cent of revenue by 2011.

Mr Seow said Yongnam is in talks with the same railway company in Dubai to secure another contract worth more than $50 million, and that the firm is pursuing other projects in the Middle East.

These include the construction of high-rise buildings in Qatar, Dubai and Saudi Arabia, airport-related projects in Doha and Dubai, and a petrochemical plant in Saudi Arabia.

With a market value of US$55.7 million, Yongnam ranks 14th out of 23 firms in the Singapore Construction Index, alongside BBR Holdings and Sim Lian Group.

Yongnam was hit by a downturn in the property market and slump in construction projects in 2001, and was mired in debts of up to $80 million until 2004. But as property prices picked up and building activity resumed, the firm has recovered.

While the share price is still far below the August 2000 all-time high of $0.415, it has nearly tripled in the past three months, making it the best performer in the All Singapore Index and in the Singapore construction index .

Shares of construction companies have rallied in the past three months and now rank among the top-performing stocks in the All Singapore Index.

Investment holding firm PDC Corp is the second-best performing stock in the All Singapore Index, with a near-tripling of its share price in the past three months.

Shares of Yongnam closed up 4.4 per cent at $0.12 yesterday. - Reuters

 

hey interesting they requested halting.. why the directors sell when they have result or news to declared?

 

Let's see it cheong again....

Singapore's Yongnam requests trading halt pending announcement

 

Currently still under correction, may take at least one month to correct before it can break the 13.5cents, it need to build it foundation strong before rise, otherwise the next correction will be bigger. 

 

Yongnam started to rise from 3c in early Oct and reached its peak of 13.5c (closing price)on 5th Dec, that was an increase of 10.5c. Then it retreated to 10.5 c on 7th Dec, a retreat of approx 30%, not 50%.

 

no choice. follow the rules. But is the brutal one.

 

a very sad game... :(

 

and those who chasing at the peak will have to hold or painfully cut it.

so one side win is the other side lost.

 

But those many would have exited at the peak when they doubled their money.

 

double up, then 50% down, still profit 25%. not bad hee..hee