KUALA LUMPUR: PMW International Bhd
via its subsidiary, PME Concrete Industries Sdn Bhd, has entered into a second supplemental agreement with Tenaga Nasional Bhd (TNB) valued at RM64.37mil for an additional provision to supply spun concrete poles to power the expansion of TNB’s distribution network.
Together with the initial contract, also valued at RM64.37mil, and the optional value contract amounting to RM19.31mil, the aggregate contract value stands at a total of RM148.05mil.
According to PMW, there has been RM60.19mil in spun concrete poles delivered under the initial contract to TNB. The second supplemental agreement and optional value contract are seen as a replenishment of order for TNB's infrastructure requirements for its distribution network.
"With the remaining contract balance of approximately RM87.86mil, we are positive that this Second Supplemental Agreement will add constructively to the group’s current orderbook and
provide sustained revenue visibility, particularly for FYE27.
"Alongside higher production volume, additional capacity in the upcoming year with the completion of the group’s earmarked production facilities, PMW Group is poised to achieve better economies of scale to match the order quantity," said executive director and CEO Lee Hon Hwa.
