Yongnam Holdings Limited (SG:AXB) has released an update.
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In a strategic move, Yongnam Holdings Limited has announced that its subsidiary YNEC has successfully transferred its obligations for MRT-related construction works to Aztec Steel Pte. Ltd. through a novation agreement. This agreement will see Aztec Steel assuming all of YNEC’s responsibilities and liabilities for the project from May 1, 2024, allowing Yongnam and YNEC to be released from previous commitments.
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