KUALA LUMPUR: MN Holdings Bhd
(MNHB) kicked off the first quarter ended Sept 30, 2025 (1Q26), with a record net profit of RM21.5mil, more than tripling the RM7mil posted in 1Q25.
The infrastructure utilities construction and engineering solutions specialist saw its quarterly revenue double to RM214.1mil from RM103.1mil a year earlier, driven primarily by accelerated project execution within its substation engineering division.
MNHB said the substation engineering segment remained the group’s key growth engine, contributing RM189.04mil, or 88% of total revenue, representing a 285% year-on-year increase.
Revenue from the underground utilities engineering segment came in at RM25.06mil, reflecting a stable contribution from ongoing utilities and tunnelling works.
Managing director Datuk Clement Toh said the group’s solid performance in 1Q26 reflects the depth of its project pipeline and the strong execution capabilities it has built over the years.
He added that the significant uplift from its substation engineering projects underscores its ability to deliver increasingly complex, high-value infrastructure works driven by national grid expansion needs.
“With data centres, renewable energy assets, and water-related infrastructure moving into new phases of development, demand for power cables, substation works, utilities installation and tunnelling continue to accelerate.
“Our growing scale, strengthened balance sheet, and multi-segment expertise position us well to capture these structural opportunities,” Toh said.
