Yongnam

Yongnam: Weak share price may be due to the further delay of the Hanthawaddy International Airport in Myanmar, because of an apparent major change in project policy, according to a senior Transport Ministry official. Yongnam is one of the four short-listed bidders to re-submit their tenders on the project, after a consortium led by South Korea's Incheon International Airport Corp pulled out, with reasons cited ranging from poor legal framework in Myanmar and poor returns arising from unanticipated additional costs to weak financial situation of the Korean group. The deadline for the four bidders to resubmit their bids is on April 22. http://www.airport-world.com/component/k2/item/3760-tenders-to-be-submitted-by-april-for-new-myanmar-airport