EITA subsidiary wins another job from TNB

PETALING JAYA: EITA Resources Bhd ’s subsidiary has won another contract worth RM49mil from Tenaga Nasional Bhd (TNB), barely two days after it secured a RM56.36mil job from the utility giant.

EITA said its 60%-owned unit, Transsystem Continental Sdn Bhd, had received a letter of acceptance from TNB to carry out a 132kV double-circuit loop in or out underground cable from Pencawang Masuk Utama (PMU) Gelugor to PMU Farlim into PMU Datuk Keramat.

It said the duration of the contract, which is effective Oct 25, would run for 730 days from the commencement date.

“The contract will not have any material effect on the net assets and gearing of EITA group for the financial year ending Sept 30, 2019, and is expected to contribute positively to group earnings over the duration of the contract.

“The potential risks involved in the contract are the same with any other projects undertaken by Transsystem Continental, which are considered normal operational risks,” it said in a filing with Bursa Malaysia.