KUALA LUMPUR: Jati Tinggi Group Bhd
(JTGB), through its wholly owned subsidiary Jati Tinggi Holding Sdn Bhd (JTHSB), and in collaboration with Worktime Engineering Sdn Bhd (WESB), has secured a Letter of Acceptance (LOA) from Tenaga Nasional Bhd (TNB) for a submarine cable project.
The contract, valued at RM19.41mil, involved the design, supply, installation, testing, and commissioning of insulated lead sheathed 33kV submarine cables and accessories at Sungai Manjung, Lumut, Perak.
The two companies will collaborate via an unincorporated joint venture, with JTHSB holding a 70% stake and WESB 30%.
The scope includes dismantling old cables, installing new ones, and conducting system testing and commissioning. The contract is effective from July 21 and is scheduled to be completed within 365 days.
The board expects the contract to have a positive impact on the company’s future earnings, earnings per share, and net assets per share.
