
Yongnam wins 3 contracts worth $29.3m
Yongnam Holdings, the structural steel contractor and specialist civil engineering solutions provider, has secured three contracts worth a total of $29.3 million comprising one contract for the MRT Downtown Line 3 (DTL3) and two sub- contract packages for a petrochemical plant on Jurong Island.
The 21-km long DTL3 is the final stretch of the 42-km Downtown Line. Yongnam’s contract is for the Jalan Besar station, which will be built under Kallang Bahru. It will serve commuters going to the commercial and industrial buildings in the area. Yongnam will support the main contractor, Penta Ocean Construction Co., by providing temporary steel waling, strutting and construction decking works.
Work on the contract is expected to be completed by end of 2014.
never give up ?
bishan22 ( Date: 17-Nov-2011 08:28) Posted:
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Hooray,this gem finally moving.
Thanks for replying.
bishan22 ( Date: 17-Nov-2011 08:28) Posted:
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Used to own this counter too. Gave up eventually. Best to get in at 0.18 and out at 0.30. Good luck.  

gavinl ( Date: 17-Nov-2011 07:35) Posted:
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Lots of married deals yesterday.
Anyone got any views?
This counter is moving so so slowly till i nearly want to pull out of it and invest in other counters [been holding it for 4 years plus]
it often has good news till the solid stone pillars in Kelong can breed Mussels and the price is still stagnant.
Hope it will run like UET in this coming bull(next week), otherwise is disappointing too. Good news, good companies still need active BBs to participate in.
samloh28 ( Date: 21-Sep-2011 21:05) Posted:
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Yongnam: 3Q11 results slightly above expectations.
Net profit was $16.8m, +12% qoq, +23% yoy, a fresh quarterly record for Yongnam, underpinned by higher revenue (+7% yoy) and growing contributions of the group’s higher margin Specialist Civil Engg division (55% of revenue vs 2Q11: 48% 3Q10: 37%). This lifted gross margins to 30.2%, +260bps yoy.
Yongnam secured $54m worth of contract wins between Sep-Oct 11, bringing ytd wins to about $290m. The group has secured civil engg contracts on two DTL3 stations (Kaki Bukit & Kallang Bahru 16 stations in total), out of a total of six which have already been awarded. Yongnam ended the qtr with an order backlog of $480m.
Citi keeps at Buy but lowers TP to $0.31 from $0.36. Notes Yongnam’s stock price has been range bound btwn $0.21 - 0.32 since mid ’09, and with the current macro headwinds, believes it will be increasingly challenging for Yongnam to break out of the $0.30-0.32 resistance level over the next 12 mths. Nevertheless, the house sees strong support at $0.23.
Great news indeed for Yongnam's investors for Yongnam winning 2 temporary works for Downtown Line 3 and victoria concert hall for S$30 over million !  Adding to S$23.7 million won in Sep 2011, it makes total of more than S$ 53.7 million won over 2 months.
Expect more contracts coming along the way.  There are perhaps 17 Downtown Line 3 stations and potential for most of the other 15 stations temporary works need to be awarded. And the potential contracts for Malaysian and Hong Kong MRT are in the pipeline.
Current P/E ratio of 5 is below the industry average of 7.5, which makes Yongnam worth at least 35 cents ! There were quiet accumulation of stocks in region around 23 to 23.5 cents in the past weeks. Hopefully the BB will push it up by couple of cents in the coming weeks.  Around 2009 it happened before, Yongnam went up 4 cents in a day.  The day will come soon for the patient investors. 
This stone heavily kanna  controlled  !
Kelong stock at the moment ! 
warrenbegger ( Date: 24-Sep-2011 01:03) Posted:
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Considered quite alot of movement these 2 days.
Anyone got any updates?
will yongnam be affected by escalating commodities price ? ??
Somebody is buying quite consistenly at 23.5 cents... Will this be able to help to support the shares prices from going down??
New123 ( Date: 26-Sep-2011 14:01) Posted:
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Seems to be holding up well at 23 cents..
Yongnam is expected to win many contracts in the next few months, part of the S$28 billion construction boom in Singapore. Very solid and will move very soon with solid investors pumping into this counter.   Must have patience.   EPS is 4.8 cents and assuming P/E ratio of 10, should be worth 48 cents.
Yongnam in the face of storm, stand stone stone there.
Like a block of stone :)
Dear Yongnam investors, Edge Edition 482 (week 25 July to 31 July 2011), includes a full page article interview with CEO Seow Soon Yong. Very positive news indeed.   Salient summary as follows:
1. Yongnam further clinched S$12 million of Hong Kong projects which were not reported as the packaging is not big. Total value clinched todate is S$69 million and tendering for S$350 million worth of projects in Hong Kong.
2. As at 31 March 2011, Yongnam's order book stood at S$410 million. About 70% was for strutting contracts, while the balance was for structural-steel work. Geographically, the bulk of work is currently in Singapore, but Hong Kong could soon account for about half of its revenue.
3. Another big opportunity is new MRT project in KL and Indonesia. Quoted, " there is no company like Yongnam in KL and that is why we want to participant." KL has about 40 stations and very deep and the deeper it goes, more steel is required. The MRT project for Yongnam is worth about S$200 to S$ 300 million.   And Jarkata is worth S$100 million.  
  4. Very busy in Singapore. Potential contracts in next 6 mths include Downtown Line 3 which main contractors will be awarded by end Sep 2011 and it will be followed by award of sub-contractors to Yongnam for structural works.  
5. Coming up in next few years, will be Thomson Line and Eastern Region Line and North-South Expressway (note that half is underground and needs strutting works) and Yongnam is tendering for these also.
6. There are also bidding for Sports Hub worth about S$30 to S$35 million for multi-purpose hall and aquatic building.
7. Another big development is the South Beach by City Development
8. Another huge development is the redevelopment of the Market Street Car Park.
Side note: After completed reading the book Snowball Warren Buffet and the Business of Life, I realised that if Warren Buffet had been in Singapore, he might have launched a takeover of Yongnam. It is value investing. The criteria is simple. Warren will buy the stocks which are undervalued, such as in Yongnam and with huge growth and profit potential. In this case, about 67% upside to 45 cents.   And Warren will always wanted a very good CEO in-charge and will put in the condition that the company comes with the CEO. And he will pay cash to buy all the shares in the company and leave the entire operations to the CEO. In this case, I met CEO Seow in past 3 AGMs and it fitted the criteria of very CEO.   And looking at the above 8 points and the good direction that the CEO has placed the company, we should see very good upside for Yongnam.
Good luck 
1. Yongnam further clinched S$12 million of Hong Kong projects which were not reported as the packaging is not big. Total value clinched todate is S$69 million and tendering for S$350 million worth of projects in Hong Kong.
2. As at 31 March 2011, Yongnam's order book stood at S$410 million. About 70% was for strutting contracts, while the balance was for structural-steel work. Geographically, the bulk of work is currently in Singapore, but Hong Kong could soon account for about half of its revenue.
3. Another big opportunity is new MRT project in KL and Indonesia. Quoted, " there is no company like Yongnam in KL and that is why we want to participant." KL has about 40 stations and very deep and the deeper it goes, more steel is required. The MRT project for Yongnam is worth about S$200 to S$ 300 million.   And Jarkata is worth S$100 million.  
  4. Very busy in Singapore. Potential contracts in next 6 mths include Downtown Line 3 which main contractors will be awarded by end Sep 2011 and it will be followed by award of sub-contractors to Yongnam for structural works.  
5. Coming up in next few years, will be Thomson Line and Eastern Region Line and North-South Expressway (note that half is underground and needs strutting works) and Yongnam is tendering for these also.
6. There are also bidding for Sports Hub worth about S$30 to S$35 million for multi-purpose hall and aquatic building.
7. Another big development is the South Beach by City Development
8. Another huge development is the redevelopment of the Market Street Car Park.
Side note: After completed reading the book Snowball Warren Buffet and the Business of Life, I realised that if Warren Buffet had been in Singapore, he might have launched a takeover of Yongnam. It is value investing. The criteria is simple. Warren will buy the stocks which are undervalued, such as in Yongnam and with huge growth and profit potential. In this case, about 67% upside to 45 cents.   And Warren will always wanted a very good CEO in-charge and will put in the condition that the company comes with the CEO. And he will pay cash to buy all the shares in the company and leave the entire operations to the CEO. In this case, I met CEO Seow in past 3 AGMs and it fitted the criteria of very CEO.   And looking at the above 8 points and the good direction that the CEO has placed the company, we should see very good upside for Yongnam.
Good luck 
Yongnam today announced that it won S$23.7 million worth of contracts from Sports Hub and Marina East Hotel/Development.   Expected to have more contracts to be won in the coming months, such as Downtown 3 strutting works, Malaysian MRT, Hongkong MTR, Beach Road Development, further Sports Hub contracts etc.....   Cheers
This is indeed a very stable counter.
Everyone lao siah,this baby maintain.
Instead,alot of ppl are buying slowy..
Has 101% confidence in this. 
Submitted with respect to: YONGNAM HOLDINGS LIMITED Announcement Title: NOTICE OF A DIRECTOR& apos S (INCLUDING A DIRECTOR WHO IS A SUBSTANTIAL SHAREHOLDER) INTEREST AND CHANGE IN INTEREST Broadcast Date: 31-Aug-2011 Broadcast Time: 17:14:49 Stock Code: Y02 Reference No.: 00056 Announced by: YONGNAM HOLDINGS LIMITED Company Registration No.: 199407612N Submitted on behalf of: YONGNAM HOLDINGS LIMITED Submitted with respect to: YONGNAM HOLDINGS LIMITED Name of Announcer: Seow Soon Yong Designation: Chief Executive Officer Broadcast date: 31-Aug-2011 Broadcast time: 17:14:49 Price sensitivity : No Contact No.: 67581511 Submission date: 31/08/2011 Submission time: 5:13:35 PM Date of notice to issuer (Part I): 31/08/2011 Shareholder Type (Part I): Director Name of Shareholder Type (Part I): Goon Kok Loon Notice: Notice of a Director& apos s (including a director who is a substantial shareholder) Interest and Change in Interest. Shareholder Type (Part II): Deemed Interest Date of change of: 26/08/2011 Name of Registered Holder: Foo Hong Eng Circumstance(s) giving rise to the interest or change in interest: Sales in Open Market at Own Discretion Details: Instrument Type I: No. of [Instrument Type] held before the change: 100,000 As a percentage of issued share capital: 0.008 Instrument Type II: Shares No. of Instrument Type II which are subject of this notice: 100,000 As a percentage of issued share capital: 0.008 Amount of consideration (excluding brokerage and stamp duties) per share paid or received: 0.225 Instrument Type III: Shares No. of N.A. held after the change: 0 As a percentage of issued share capital: Shareholder Type III: Date of change of ShareholderType III: The change in the percentage level (From): The change in the percentage level (To): Circumstance(s) giving rise to the interest or change interest: Details: A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: Shareholder Type IV: Director No. of shares held before the change (Direct): 0 No. of shares held before the change (Deemed): 100,000 As a percentage of issued share capital (Direct): 0 As a percentage of issued share capital (Deemed): 0.008 No. of shares held after the change (Direct): 0 No. of shares held after the change (Deemed): 0 As a percentage of issued share capital (Direct): 0 As a percentage of issued share capital (Deemed): 0 Footnotes: The above percentage is calculated based on the total number of 1,253,413,502 ordinary shares of the Company as at 31 August 2011.     |