Stock Name: Yongnam
Company Name: YONGNAM HOLDINGS LIMITED
Research House: DBS Vickers
DBS Vickers Securities in a May 20 research report says: "Yongnam Holdings announced that it has secured another structural steel contract worth $50 million for the restoration works to the former Supreme Court building and the former City Hall building.
"This is the fourth contract announced by Yongnam YTD, and comes close on the heels of the Singapore Sports Hub contract worth $75 million secured earlier this month. With this contract, we estimate new order wins YTD in FY2011 should add up to approximately $200 million, including unannounced contracts.
"This translates to more than 50% of our full-year order win projections of around $370 million, and should enhance Yongnam's current orderbook to over $500 million. Target price of 38 cents. MAINTAIN BUY."
Company Name: YONGNAM HOLDINGS LIMITED
Research House: DBS Vickers
DBS Vickers Securities in a May 20 research report says: "Yongnam Holdings announced that it has secured another structural steel contract worth $50 million for the restoration works to the former Supreme Court building and the former City Hall building.
"This is the fourth contract announced by Yongnam YTD, and comes close on the heels of the Singapore Sports Hub contract worth $75 million secured earlier this month. With this contract, we estimate new order wins YTD in FY2011 should add up to approximately $200 million, including unannounced contracts.
"This translates to more than 50% of our full-year order win projections of around $370 million, and should enhance Yongnam's current orderbook to over $500 million. Target price of 38 cents. MAINTAIN BUY."
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