Yongnam Holdings Limited (SG:AXB) has released an update.
Yongnam Holdings Limited’s subsidiary, Yongnam Engineering & Construction, has transferred its responsibilities for the T2C Project’s earth retaining stability structure system to Aztec Steel Pte. Ltd. through a novation agreement. This agreement releases Yongnam and the main contractor, China Communications Construction Company, from their reciprocal obligations, with Aztec Steel assuming all duties and liabilities from 1 February 2024. The company will keep the market updated on any significant developments in compliance with the Singapore Exchange listing requirements.
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