Yongnam: secured a $50m sub-contract for the future National Art Gallery. They will support the main contractor, Takenaka-Singapore Piling Joint Venture by providing ~10k tons of structural steelworks and various other construction activities. The contract is expected to be completed in 2014.
Stock currently trades at 5.7X P/E. The street largely has a Buy on the stock with TP ranging from $0.38 - 0.44.
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