Yongnam Holdings Advances Amid Judicial Management

Yongnam Holdings Limited (SG:AXB) has released an update.

Yongnam Holdings Limited, along with its subsidiary Yongnam Engineering & Construction, is under judicial management, with current efforts focused on reducing bank debt by realizing security interests and negotiating terms for project-related agreements. There are no new updates on negotiations with principal bankers. The company has made significant moves, including a deed of novation for the Bulim Project and a substantial sale of steel struts, which could impact its financial standing.

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