MN Holdings unit secures RM13.3mil underground utilities contract

KUALA LUMPUR: MN Holdings Bhd's wholly-owned subsidiary Mutu Nusantara Sdn Bhd has secured an underground utilities contract from Rentak Segar Sdn Bhd worth RM13.3mil.

In a statement, the underground utilities and substation engineering specialist said its unit has been appointed to be the subcontractor to supplt and install high voltage underground cable works for two data centres in Johor.

The contract is expected to be completed 319 days from the commencement date.

For the first data centre routing, Mutu Nusantara will supply and install 132KV double circuit cross-linked polyethylene (XLPE) underground cable from transmission main intake (PMU) Financial Centre to GDS Data Centre substation for GDS Services Ltd.

The second data centre routing will see Mutu Nusantara supply and install 275KV double circuit XLPE underground cable from PMU Sedenak to Yellowwood Data Centre.

MN Holdings executive director Datuk Clement Toh said the latest contract win will further strengthen the Company’s technical know-how on construction and engineering of utility infrastructure for a data centre.

"The contract is expected to contribute positively to the revenue and earnings of the Company for the financial years ending June 30, 2023, and June 30, 2024, as well as to the future earnings and net assets per share of the group during the duration of the contract," he added.

With this win, MN Holdings has increased its outstanding order book to RM332.7mil.

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