Yongnam Holdings Limited

1HFY2009 Results Presentation

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Contents

• Our Business

• Corporate Updates

• 1HFY2009 Financial Performance

• Prospects and Market Outlook

• Growth Strategies and Plans

• Key Highlights

Our Business

3

Structural Steelworks

• One of the largest steelfabrication facilities inSoutheast Asia

• Nearest competitor is onefifth the size of Yongnam

• On time delivery and withquality

• S1 category accreditation from Singapore Structural Steel Society

We are… A well-established structural steel contractor and

specialist civil engineering solutions provider

Specialist Civil Engineering

• Modular Strutting Systemmeets increasingly stringentdesign and projectrequirements

• Approximately 90,000 tons ofstrutting assets

• High replacement cost of strutsis a major barrier to entry

4

Our Business

• Over 30 years of experience in steel fabrication

• Long established relationships with major customers, who are reputable contractors:

Takenaka Corporation

Taisei Corporation

Obayashi Corporation

Penta Ocean

Shimizu Corporation

Dragages Singapore

Sembawang Engineering &

Construction Ltd

Samsung Corporation

Ssangyong Engineering &

Construction Co Ltd

Hyundai Engineering &

Construction Ltd

Daelim Industrial Co. Ltd

Woh Hup Pte Ltd

5

Regional Offices

Singapore

- Yongnam Engineering &

Construction (Pte) Ltd

- YNE Project Engineering

Pte Ltd

Malaysia

- Yongnam Engineering Sdn

Bhd

- Jiwa Harmoni Offshore Sdn

Bhd

Hong Kong

- Yongnam Engineering (HK) Ltd

Thailand

- Yongnam Engineering &Construction (Thailand) Ltd

China

- Yongnam Steel Work System

Engineering (Shanghai) Co.,

Ltd

Middle East

- Yongnam Engineering & Construction (Pte) Ltd, Dubai Branch

India

- Project Office (Delhi)

Hong Kong

Malaysia

Singapore

China

ThailandMiddle East

INDIA

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Regional Projects

Projects undertaken

across the region:

Singapore

Malaysia

Middle East

China

Norway

Brunei

Philippines

Thailand

Japan

Korea

Hong Kong

Pakistan

India

Hong Kong

BruneiMalaysia

Singapore

Thailand Philippines

Japan

India

Korea

Pakistan

Middle East

China

Norway

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Structural Steelworks – Track Record

Marina Bay Sands Integrated Resort,

Singapore

Orchard Turn,

Singapore

Dubai Metro Rail, Dubai

New Delhi International Airport,

India

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Structural Steelworks – Facilities

Singapore:

Total Land Area: Approximately 76,000 m2

Workshop Covered Area: 20,250 m2

Capacity (Normal Steel Structure): 3,000 Tons per month

Malaysia (Nusajaya, Johor)*:

Total Land Area: Approximately 109,103 m2

Workshop Covered Area: 28,900 m2

Capacity (Normal Steel Structure): 3,500 Tons per month

*New fabrication factory commenced operations in September 2008

Total Staff Strength: Approximately 1,450

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Specialist Civil Engineering – Track Record

Farrer Station, Circle Line,

Singapore

Marina Bay Sands Integrated Resort,

Singapore

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Completed/Ongoing Works

PC

CD

ST

SS

SS

PC

PCPCPCPCPCPC

PC

CD

CD

CD

CD

SS SS

SS

ST

ST

ST

ST

ST

STST

ST

ST

ST

ST

PC Pre cast Projects

ST Civil Eng Works

ST

ST

STST

ST

ST

ST

ST

ST

ST

ST

ST

ST

ST

ST

ST

SS Structural Steelwork

CD Civil Defense Doors

Corporate Updates

• Total of 8 contracts worth S$302 million

• First two contracts completed

• Remaining 6 contracts:

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Corporate Updates – MBS IR

Project Expected Completion Date

South Podium End September 2009

North Podium End November 2009

ArtScience Museum End January 2010

View Corridors & Canopies End January 2010

Lion Garden Bridge &

Cooling Tower Structure

End January 2010

SkyPark End January 2010

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MBS IR – Arts Science Museum

Top surface

framing structure

Floor structure

Lift core

Bottom surface

framing structure

Lookout framing

Staircase structure

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MBS IR – Skypark

Sky Park

343m

64m

North Cantilever

Bridge 2

Tower 3 Box Girder

Bridge 1

Heavy Lifting Component

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View Corridor Bridges

& Large Canopies

Main Con – Yongnam

Steel Wt – 1,137 tons

Sky Park

Main Con – JFE

Yongnam JV

Steel Wt - 7,900 tons

Cooling Towers

Main Con - Yongnam

Steel Wt - 507 tons

Lion Garden Bridge

Main Con - Yongnam

Steel Wt - 480 tons

North Podium Steel

Decking & Strutting

Main Con – Sembcorp Punj

Llyods

Steel Wt - 17,300 tons South Podium Excavation,

Decking & Strutting

Main Con – KTC Yongnam JV

Arts Science Museum

Main Con - Penta Ocean

Steel Wt - 5,113 tons

Ongoing Projects at MBS IR

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Marina Coastal Expressway

• C485 contract worth S$185.5 million – single largest contract won by Yongnam todate

• Temporary steel pipe pile cofferdam, steel waling and strutting works

• Project scheduled for completion by June 2013 – 7% completed

Corporate Updates - MCE

• C487 contract valued at approx S$53 million

• Support construction works by main contractor, Daelim Industrial Co. Ltd, through the lease supply, fabrication, installation and removal of temporary waler, strut, splay and bracing

• Contract works scheduled for commencement in October 2009 and completion by end 2013

• C483 contract valued at approx S$23 million

• The installation and the eventual extraction of the temporary steel interlocking pipe pile earth retaining wall for the 950-metre vehicular tunnel structure

• Contract works just commenced and scheduled for completion by June 2012

Artist’s Impression

C485

C485

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Corporate Updates

New Delhi International Airport

• Completed in June 2009

Vista Xchange

• Contract worth S$88 million

• Construction of the Integrated Civic, Cultural, Retail and Entertainment Hub at Vista Xchange, located at one-north

• Construction commenced end of 2008; scheduled for completion by January 2011

• 10% completed

Artist’s Impression

• Completed:

▫ Structural steelworks and strutting works for 19 overground/underground stations in March 2009 for both Red and Green Lines

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Corporate Updates – Dubai Metro Rail

Dubai Metro Rail

• Ongoing*:

▫ Won new contract worth AED 13.3 million in April 2009 for the Entrance Canopies for two underground stations for Red Line – 80% completed

▫ Won two new contracts worth AED 84.8 million in April 2009 for Green Line:

AED 74.7 million contract for structural steelworks for 12 overground stations – 20% completed

AED 10.1 million contract for structural steelworks for 6 underground stations – 40% completed

* Three new contracts secured in April 2009 to be completed by end 2009

1HFY2009 Financial Performance

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Financial Highlights

1HFY2009 Highlights:

• Another quarter of commendable results

• Builds on strong first quarter performance

• Topline growth of 37.0% to S$183.2 million

• Net profit jumps 53.8% to S$20.7 million

• Structural Steelworks remains as top revenue contributor and

revenue gainer

• Net debt to equity ratio remains low at 0.7 times as at end June 2009

• Shareholders’ equity improves to S$166.9 million as at end June

2009

• Strong order book maintained – S$497 million as at end June 2009

Period ended June 30

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Financial Highlights

2QFY2008 2QFY2009 Change (%) 1HFY2008 1HFY2009 Change (%)

Revenue (S$’m) 86.3 86.4 + 0.1 133.8 183.2 + 37.0

Gross Profit (S$’m)

18.0 21.0 + 16.5 31.2 44.3 + 42.0

Profit after tax (S$’m)

8.7 10.6 +22.0 13.5 20.7 +53.8

EPS (Basic)

(Singapore cents) (1)

0.71 0.86 + 21.1 1.11 1.70 + 53.2

NAV Per Share (Singapore cents) (2)

- - - 12.14 13.64 + 12.4

Period ended June 30

(1) EPS per share was computed based on the weighted average number of shares of 1,223,722,368 for 2QFY2009 (2QFY2008:

1,217,462,983) and 1,221,480,176 for 1HFY2009 (1HFY2008: 1,217,442,983) (2) NAV per share as at December 31, 2008 and June 30, 2009 respectively

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Balance Sheet Highlights

Dec 31

2008

June 30

2009

Work-in-progress (S$’m) 120.9 139.0

Debtors (S$’m) 36.5 41.7

Cash & Bank Balances (S$’m) 40.5 17.9

Borrowings (S$’m) 123.8 135.2

Net Borrowings (S$’m) 83.3 117.3

Shareholders’ Funds (S$’m) 147.7 166.9

Order Book (S$’m) 504.0 497.0

Period ended June 30

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Revenue Growth

S$’m

Notwithstanding continuing global economic slowdown:

- 2QFY2009 Revenue 0.1%:

• Structural Steelworks increased 15.9%to S$69.9 million from 2QFY2008 mainlydue to:

• Contributions from projects such as:

• Marina Bay Sands™ Integrated Resort;

• New Delhi International Airport;

• Integrated Civic, Cultural, Retail and

Entertainment hub at Vista Xchange,

one-north.

• Specialist Civil Engineering declined36.3% to S$16.5 million from 2QFY2008 mainly due to:

• Reduced activities at Marina Bay Sands™

Integrated Resort;

• Partly offset by the commencement of

the Marina Coastal Expressway C485

project – the Group’s single largest

contract to-date at S$185.5 million.Period ended June 30

37.0%

0.1%

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Gross Profit

S$’m 2QFY2009 Gross Profit 16.5%

Due mainly to:

• Improved margins: 20.9% in 2QFY2008

to 24.3% in 2QFY2009

Period ended June 30

16.5%

42.0%

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Profit after Tax

S$’m

Consequently, profit after tax 22.0%

Period ended June 30

22.0%

53.8%

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Revenue by Business Activity

2QFY2008

2QFY2009

80.9%

19.1%

Specialist Civil Engineering

S$16.5m

Structural SteelworksS$69.9m

Period ended June 30

70.0%

30.0%

Specialist Civil Engineering

S$25.9m

Structural SteelworksS$60.3m

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Order Book

• Strong order book of S$497 million as at June 30, 2009

- Boosted by new contract wins in 1HFY2009:

• Marina Coast Expressway (C487 and C483 contracts);

• 8th contract for the Marina Bay SandsTM IR; and

• Three new contracts for the Dubai Metro – Red and Green Lines.

Period ended June 30

Prospects and Market Outlook

• Government ramping up construction spending

▫ S$18 billion to S$20 billion worth of contracts to be injected into economy this year

▫ Another S$15 to S$17 billion to be pumped in for building and infrastructure projects in 2010 and 2011 each

• Major public projects to be awarded this year include the National Research Foundation’s research campus, JTC Corp’s International School Campus at Tampines, and support facilities for Gardens by the Bay at Marina South

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Local Prospects

Committed support from Government through to 2011:

Business Times, August 11, 2009 Straits Times, March 24, 2009

• Momentum in the construction sector picked up strongly after a moderation in the first quarter

▫ The construction sector grew by 32.7% compared to 1Q2009’s 9.6%, driven by the growth in both public and private constructionactivities

Construction sector holds up in 2Q2009:

• Construction sector

shows least pessimism

• The construction

sector emerged the “star

performer” for a second

consecutive quarter

• The UAE is carrying out projects in Construction and other sectors with total value of approx. AED3.4 trillion ($930 bn)

• Every country in the region have plans for ambitious rail projects

▫ Qatar and Kuwait are spending around $10 billion each;

▫ United Arab Emirates is forking out around $20 billion; and

▫ Saudi Arabia plans to spend $15 billion to increase the size of its rail network nearly five-fold.

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Regional Prospects

Middle East:

“Making tracks: European companies hope to prosper from railway mania in the Middle East”Economist, April 23, 2009

India:• Govt intends to spend about US$500 bn on India’s

infrastructure in the five years to 2012

Amongst the budget:

▫ US$79 billion will be spent on highways and bridges

▫ US$65 billion will be spent on railways

“$930bn worth of projects underway in the UAE”Arabian Business, July 24, 2009

“India to pour billions into upgrading infrastructure”The Straits Times, July 4, 2009

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Potential Projects

• Structural Steelworks

LocationExpected

CommencementGovernment

$ Mil

Non-Government

$ Mil

Singapore2009 100.0 Nil

2010 400.0 Nil

Total 500.0 Nil

LocationExpected

CommencementGovernment

$ Mil

Non-Government

$ Mil

Singapore2010 163.0 80.0

2011 60.0 57.0

Overseas2009 Nil 60.0

2010 150.0 Nil

Total 373.0 197.0

• Specialist Civil Engineering

• Projects announced by Government (not included above):

▫ MRT Thomson Line

▫ MRT Eastern Line

▫ North-south Expressway

• Contracts for infrastructural developments such as:

MRT Downtown Line

Turbine Building – India

Singapore Sports Hub

Airport Terminal Building – Oman

Marina Coastal Expressway

Growth Strategies and Plans

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Growth Strategies and Plans

Remain focused on the two core businesses – StructuralSteelworks and Specialist Civil Engineering

Leverage on established brand name and strong foothold inthe Singapore market

Continue to explore growth potential in Middle East andIndia opportunistically

Thank You