KUALA LUMPUR: Epicon Bhd’s wholly-owned subsidiary, Transnational Builder Sdn Bhd, has secured an underground cables works contract from Ibrahim & Sons Engineering Sdn Bhd for RM130.89 million.
The scope of work for Transnational Builder comprises the procurement and supply of all materials and labour, installation of pipelines, cables and jointing inclusive of all site excavation and restoration works and testing and commission of pipelines, cables and jointing.
Transnational Builder will act as the subcontractor for Ibrahim and Sons to install, test, and commission Tenaga Nasional Bhd network distribution division’s underground cables and accessories.
"The contract period is 12 months commencing from Oct 3, 2023, to Oct 2, 2024, with an option to renew for a further period of 12 months subject to mutual agreement by both parties,” Epicon said in a filing with Bursa Malaysia.
Epicon, formerly known as Konsortium Transnasional Bhd, is one of the largest operators of public bus transportation comprising stage and express bus services in Malaysia, predominantly covering routes in several states servicing major cities and towns in Peninsular Malaysia.
"The award would not have any effect on the issued share capital and substantial shareholder’s shareholdings of Epicon and is expected to contribute positively to the earnings and thus the net assets of the company from the financial years ending Dec 31, 2023, and onwards,” Epicon said. - Bernama