Yongnam Holdings Limited (SG:AXB) has released an update.
Yongnam Holdings Limited has announced that its subsidiary, Yongnam Engineering & Construction (YNEC), has signed a novation agreement with Aztec Steel Pte. Ltd., transferring all obligations and liabilities of a sub-contract for the C190 ITTC project. This agreement releases YNEC from its previous commitments to the main contractor, GS Engineering & Construction Corp., as Aztec Steel will now assume responsibility for the project’s construction and related works. Stakeholders are advised to stay informed through future updates in accordance with the company’s disclosure obligations.
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