Thursday, July 12, 2007
Yongnam
SINGAPORE, July 11 (Reuters) - Singapore construction andengineering firm Yongnam Holdings halted the trading ofits shares on Wednesday, pending an announcement on a courtdecision relating to the ownership of a floor in a building, thfirm said. "The announcement is relating to the Springleaf case," ChiefExecutive Officer Seow Soon Yong told Reuters on the telephone inJakarta. "The trial is going on, we''ll make an announcement whenthe judgment comes out." Singapore''sCourt of Appeal is expected to make its finaldecision on Wednesday over an appeal filed by United OverseasBank (UOB) against a court ruling in a case involvingthe bank and Yongnam''s subsidiaries. Yongnam units Yongnam Development andYongnam Engineering &Construction, together with Hong Leong Finance , broughta lawsuit against UOB last year over the ownership of a floor inSpringleaf Tower, a commercial building. Yongnam, which is the best performing stock in theAllSingapore index <.ASIN> so far this year, was one of the mostactively traded in Singapore. Shares in the firm last traded at S$0.555 before the tradinghalt this morning.
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