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I am surprised Yongnam is still alive till now. Its construction projects have continued to be negative margins throughout the last 6 years.

Their tender team has always been underbidding for projects and yet it seems the same people are on the job. On the contrary, companies like TTJ have been bidding with sufficient margin of safety and are profitable; however is facing a dwindling orderbook.
Yongnam's Financial results improved a lower loss reported. This is due to less revenue recognized.

Cashflow wise, the company is still burning cash in its operations and was saved by a round of share placement earlier in the year

Wonder how much dilution will shareholders need. Its a poorly managed company who has the largest structural steel business in Singapore but looks likely to collapse


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