According to Yongnam, the transactions will help put the company in a position to secure infrastructural projects that have been delayed by the Covid-19 pandemic and are now recommencing.
Yongnam Holdings, on Jan 19, entered into a loan agreement as well as a conditional subscription agreement with UEM Assets on Jan 19.
UEM Assets is a holding company that has a share capital of $10,000 and is wholly-owned by Ng Eng Guan. Ng is the sole director of UEM Assets and is the founder and managing director of U E Metal Enterprises Pte Ltd, a company that sources metal coil and manufactures and distributes metal sheets and metal finished products.
