Yongnam   

Yong nam

Why is it that Lian Beng and CSC are flying except yong nam. It seems stuck there.

 

Goldman Sachs Global Investment Research

Marina Bay Sands Integrated Resort (IR). To-date, S$1.8bn of contracts (substructure of the development and main contract for hotel and sky park package) for the S$5bn Marina Bay IR has been awarded. The latest award is to Ssangyong Engineering & Construction (E&C) as the main contractor for the hotel and sky park package. The S$1bn contract involves 2,600 rooms of total area 302,171m2 in three buildings (57 stories above ground and 3 basement floors), which will be linked by a sky park. Construction period is over 26 months for completion by December 2009, which is in line with Las Vegas Sands? commitment to commence operations of the IR by late 2009. We believe that Ssangyong?s win as the main contractor places Yongnam Holdings in the hot seat to secure the structural steelwork contracts (of estimated value S$60mn) of the hotel and sky park package as they are strong partners. We forecast that about S$275mn of structural steelwork contracts are up for grabs with the biggest package being the MICE/south podium of S$100mn. We are expecting the results of Yongnam?s bid for the structural steelwork contracts to be announced anytime over the next three months.

Infrastructure projects. In addition to the S$10bn Downtown Line rail project slated for completion by 2020, the Land Transport Authority is building a 5 km long Marina Coastal Highway at a cost of S$2.5bn from 2008 to 2013. We believe that Yongnam will emerge as the frontrunner to secure the strutting sub-contracts of these infrastructure projects given its leading market share (Yongnam supplied ~80% of the strutting requirements of the newly completed Kallang-Paya Lebar expressway).

 

Goldman Sachs Global Investment Research

We also favour Yongnam Holdings (YNAM.SI, Neutral) for its leadership position and solid track record, as well as minimal exposure to escalating raw materials costs. Yongnam is the market leader in structural steelworks and provision of strutting systems while CSC Holdings (CSC.SI, NC) is the largest local foundation specialist by capacity. While CSC is currently working on the foundation contract at Marina IR, we believe that Yongnam will emerge as the frontrunner amongst the structural steelwork subcontractors to secure more than 50% of the potential works at the two IR and Sports Hub. We view Yongnam as a major beneficiary of the construction upcycle and believe it will deliver robust topline and earnings growth. Our 12-m P/E based TP for Yongnam is S$0.54. Key risks: Execution risks and default of main contractors.

 

when are they gonna announce winners of IR proj?

 

10:18:55

0.415

2,000,000

Buy Up

10:30:15	0.420	6,000,000	Buy Up
10:30:12	0.420	2,000,000	Buy Up

10:42:35

0.420

7,020,000

Buy Up

 

louis_leecs, are you a Malaysian? Holding Singapore PR?

 

im still hold cpf bought at 425cts,,,,,,,wait for chiong up today,,,,,,wait for rite timing to unloaded,,,,no confidence at china market going to crashed,,,,may be no,,,,,just have to sell in correction in near term

 

Its no longer about Interest Fund Rate cut.  Based on the recent disappointing employment number, the fund rate cut is due. The traders are now betting if its a 25 or 50 basis points cut. :)

 

there is nothing to do with US fed interest rate, whether it cuts or not, our construction sectors are booming fast !

 

YN still weak. The profit margin of most construction counters is not high. Don't expect a big cheong up esp when US FED Chairman still indecisive to cut interest rate.

 

bb out 43cts,,,,left ikan billi ,,,,temperaly no hope,,,wait for bb come in again,,,,,,all go to penny stk,,,,,,construction cts going to correction and profit taking,,,,,,,,40cts is a ressistance,,,,very importance

 

Not much downside?? We will @@. Take LianBeng as reference....

 

there are not much downside of this counter , why sell so early?

Not vested, but on the queue..

 

sold out my poforio in lost.......bec too risky to hold over nite,,,,,,,,im be back,,,,,,,sian,,,

 

looks like its moving steadily back up. :)

 

going to announce win BIG contractes.in ............... amoh jp morgan cha...se    go and buy again,,,,,,,,,legg m buy for aia group and lion templ .....buy for prudential........BIGnews akang datang tis.............

 

On Page 27 of the latest issue of The Edge, it says

"Last week, Marina Bay Sands was believed to be doling out contracts. Yongnam Holdings has the construction project in the bag, says a company that is also expecting to clinch a contract from the integrated resorts. Meanwhile, Malaysia's Resorts World has awarded the contract to supply cement for the Sentosa integrated resort to Malaysia's YTL Cement"


Posted by a CNA forumer.

Going to cheong soon.

 

Expected.



 

 

anyone caught the rumour on THE EDGE? saw the news that Yongnam has more or less confirmed that it has got the contract for SANDS..... was stunned no one posted this big news here!!

 

Contra had to cover back.
If it dips to 37 cents....i would be happier.