Continued low levels of strutting and fabrication activities in Singapore and Hong Kong also resulted in overhead costs not being fully absorbed, it adds.
SINGAPORE (Feb 28): Yongnam Holdings, the engineering and construction services provider, reported FY18 loss widened to $51 million from $17 million a year ago due to lower revenue across all segments.
In the group’s results announcement on Thursday, Yongnam notes that its bottomline was further impacted by provisions made in anticipation of lower negotiated variation orders for two structural steelworks projects, and lower margins for Thomson MRT projects.
