Cabnet secures RM23.3mil award for Bayan Lepas project

KUALA LUMPUR: Cabnet Holdings Bhd's subsidiary Cabnet Systems (M) Sdn Bhd has secured an appointment from Unique Arena Sdn Bhd as a subcontractor for a project in Bayan Lepas, Pulau Pinang for RM23.3mil.

it said in a Bursa Malaysia filing it was tasked to supply, deliver, install/construct, inspect, test all necessary items for the containments for Packages F18 – Containments for IT & Communication System for the project.

The works commence on Aug 23, 2022, and is scheduled to be completed on March 13, 2023.

"The Sub-Contract Works is expected to contribute positively to the group’s earnings and net assets per share from financial years ending 28 February 2023 to 2024," said the group.

As at 12.30pm, shares in Cabnet were trading unchanged at 25 sen a unit on the back of 22,200 shares traded.