Yongnam

Yongnam: the consortium comprising Yongnam, Changi Airport Planners and Engineers and JGC Corp, has submitted a proposal to the Myanmar Dept of Civil Aviation, to design, construct, and operate Hanthawaddy International Airport and its facilities on the basis of a public-private partnership agreement for a 30 yr concession period, having achieved pre-qualification prior in Feb ’13. This follows an earlier submission in Apr ’13 for the development of the Yangon International Airport. The Myanmar tenders are part of mgt’s planned $1.3b worth of project pursuits for new infrastructure and commercial projects in region, including Singapore, HK, Msia, India, Indonesia and Middle East. The stock trades at 9.6x P/E.