Yongnam Holdings Limited (SG:AXB) has released an update.
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Yongnam Holdings Limited has announced that its subsidiary, YNEC, has transferred its obligations for a structural steel works sub-contract to Aztec Steel Pte. Ltd. through a novation agreement. This agreement will result in Aztec Steel assuming all responsibilities and liabilities of the contract from 1 June 2024, including those incurred by YNEC prior to the effective date. The company will continue to provide updates in accordance with its disclosure obligations on the Singapore Exchange.
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