KUALA LUMPUR: MN Holdings Bhd has secured a turnkey project valued at RM40.1mil to build the main distribution substation (PPU) network for a residential development in Taman Lagenda in Teluk Intan, Perak.
In a statement, the underground utilities and substation engineering specialist said its wholly-owned subsidiary Mutu Nusantara Sdn Bhd has secured the contract from Taraf Nusantara Sdn Bhd, a wholly owned subsidiary of Lagenda Properties Bhd, appointing it to be the contractor for the project.
It said Mutu Nusantara will be responsible for the design, engineering, procurement, fabrication and assembly of the 33 kilovolt (KV) cable connection works.
It will also undertake the construction, testing, commissioning, monitoring and assessment to the two-storey PPU 33/11KV, and associated with mechanical and electrical main component like medium voltage switchgear, 30 megavolt amperes transformer, and the civil infrastructure work at the PPU building compound.
The project will commence in September 2023 and is slated for completion by September 2024.
“Our core expertise in the underground utilities and substation engineering allows us to provide turnkey solution to our clients from various industries.
"MN Holdings is capable of undertaking a comprehensive range of services for underground utilities engineering projects.
"At the same time, the company is capable of providing integrated solutions with executive capabilities for substation engineering projects," said MN Holdings managing director Datuk Loy Siong Hay.
The group said the contract is expected to contribute positively to the revenue and earnings of the company for the financial years ending June 30, 2024, and 2025 as well as the future earnings and net assets per share of the group during the duration of the contract.