KLSE:YOCB

Yoong Onn Subsidiary's Contractor Accepts Order Worth $SG13 Million

Home linen and bedding accessories company Yoong Onn's (KLSE:YOCB) subsidiary T.C. Homeplus said its contractor, Precise Development, has accepted the letter of acceptance for a contract worth SG$13.2 million, according to a Tuesday filing to the Malaysian stock exchange.The contract is for the proposed erection of a four-story single-user industrial building on Tampines Street, Singapore.The financial details of the contract will be finalized within 28 days from the date of the letter of acceptance, and the project is expected to be completed in 15 months on Oct. 5, 2027.The contract and project will be funded through internally generated funds and an SG$9.6 million term loan.