PETALING JAYA: Underground utilities and substation engineering specialist MN Holdings Bhd (MNHB) has secured four new contracts for its substation engineering and underground utilities services and solutions business segments worth a total of RM27.0 million combined.
In a statement, it said the first contract was secured by the group’s wholly-owned subsidiary MN Power Transmission Sdn Bhd to carry out design and construction works for the extension of two air insulated substations (2 x 45 MVA) at PMU 132/33kV Raub, Pahang for RM16.9 million. The contract awarded by Tenaga Nasional Bhd (TNB) is expected to be completed in December 2023.
The other three contracts were awarded to another of the group’s subsidiary, Mutu Nusantara Sdn Bhd. It has received a letter of sward (LOA) from KL-Kepong Oleomas Sdn Bhd to provide horizontal directional drilling (HDD) construction works for RM4.3 million. The contract, which is expected to be completed in March 2023, involves supply, deliver, install, test, commission and hand over of HDD construction works for the proposed SSU substation at Oleochemical KLK Factory in Klang, Selangor.
Mutu Nusantara also received an award from Top Synthetic Rubber Sdn Bhd, a unit of Top Glove Corp Bhd to provide HDD construction work for RM3.5 million. The scope of works in the contract, comprises supply and install of HDD work for TNB incoming cable laying from F44SL/11 kV P/E substation to PPU Sungai Mas substation and PPU Sungai Manggis substation for a plant located at Sungai Langat, Selangor.
Additionally, Mutu Nusantara has received a LOA from Impiana Mahir Sdn Bhd, appointing it to be the sub-contractor to provide HDD construction works for RM2.3 million. Under the contract, Mutu Nusantara is responsible for the installation, testing and commissioning of 11kv power cable and High Voltage Aerial Bundle Cable construction works to Lei Heng Farm P/E substation to Puncak Inn Bukit P/E substation at Bukit Fraser for asset development east subzone Bentong, distribution network division, TNB.
“We are off to a good start. With these new wins, MNHB has increased its outstanding order book to RM192.0 million,” said MNHB executive director Datuk Clement Toh (pix).
The four contracts are expected to contribute positively to the revenue and earnings of the company for the financial years ending (FYE) June 30, 2023 and FYE’24 as well as to the future earnings and net assets per share of the group during the duration of the contract.
MNHB is principally involved in the provision of infrastructure utilities services comprising underground utilities engineering services and solutions and substation engineering services and solutions. It mainly serves customers in the power, gas, sewerage and telecommunications industries in Malaysia. Its customers are primarily main contractors for utility projects, property developers and industries that require its services to enable the supply of power to specific locations and/or premises.