Yongnam Holdings

If the total sum of RM87734.21 is not paid to Trevor George Partnership by Jan 23, the company could face legal proceedings.

Yongnam Engineering failed to make an appearance in the Johor Bahru High Court for the suit filed by Pantech Gelvanising on Dec 8.

The payments also include a sum for legal charges.

A case conference has been fixed at 3pm on Jan 27 at the Singapore High Court.

Among the agreements, UEM Assets will subscribe to $20 million worth of new shares in Yongnam.

The issuances follow the maturity of $12.5 mil existing convertible bonds on June 4.

The proposed placement will be at an issue price of 7.6 cents per share.

The contracts include works for the ICA Building and the upcoming Integrated Train Testing Centre in Tuas.

This contract award is expected to have a positive impact on Yongnam’s financial performance for the year ending December 31.

Established structural steel contractor and specialist civil engineering solutions provider announced on Thursday that it has clinched four contracts worth $63.0 million in Singapore and Hong Kong.