PETALING JAYA: MN Holdings Bhd
’s wholly-owned subsidiary, MN Utilities Engineering Sdn Bhd, together with Pembinaan Tajri Sdn Bhd, have secured a contract from Tenaga Nasional Bhd to install a new 275 kilovolts (kV) underground cable system worth RM67.32mil.
In a filing with Bursa Malaysia, MN Holdings said the system will link the loop-in-loop-out (LILO) point to Intel Electronic Malaysia’s switching station, supporting the bulk power supply to Intel’s Penang operations.
“The scope of works includes engineering, design, supply and erection works for the new 275kV reconfiguration underground cable works from LILO point to Intel Electronic Malaysia switching station, and all associated civil works including obtaining permits from all related stakeholders, reinstatement and restoration of surfaces and existing structures and cleaning of work areas.”
MN Holdings added that the contract will not have any effect on the issued share capital and the shareholding of the substantial shareholders of the company.
“However, the contract is expected to contribute positively to the future earnings and net assets per share of the company upon commencement of the contract.”
