UUE bags contracts valued at RM26.93mil

KUALA LUMPUR: UUE Holdings Bhd's wholly-owned subsidiary Kum Fatt Engineering Sdn Bhd has secured two contracts for the installation of underground cables and accessories valued at a combined RM26.93mil.

In a filing with Bursa Malaysia, the group said the contracts were awarded by Komasi Enginerring Sdn Bhd and Sutera Utama Sdn Bhd respectively for the installation, testing and commissioning of 11kV aluminium XLPE underground cables and accessories for asset development (North Zone), distribution network division, Tenaga Nasional Bhd.

Both contracts have a 730-day period from the commencement date with an option to extend for another 365 days.

"The contracts are expected to contribute positively to the earnings and net assets per share of the Company over the duration of the Contracts, upon commencement of the contracts," said the group.