Yongnam Holdings Limited (SG:AXB) has released an update.
Yongnam Holdings Limited’s subsidiary, YNEC, has transferred its obligations for the Bulim Project to Aztec Steel Pte. Ltd. through a novation agreement. This move will see Aztec Steel assuming all responsibilities and liabilities of the subcontract, including those incurred by YNEC before the transfer date. The company has assured shareholders and creditors that further updates will be provided in accordance with regulatory compliance.
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