Yongnam Holdings Limited (SG:AXB) has released an update.
Yongnam Holdings’ subsidiary, Yongnam Engineering & Construction, has transferred its responsibilities under a sub-contract for Contract T217 to Aztec Steel Pte. Ltd. through a novation agreement. This arrangement relieves the subsidiary of its duties and liabilities related to the sub-contract, with Aztec Steel assuming all obligations, including those arising before and after the transfer date of January 2, 2024.
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