MN Holdings Bhd has secured a RM128 million contract to build a 275-kilovolt (kV) consumer landing station (CLS) for a data centre in central Peninsular Malaysia.
The contract was awarded to its wholly owned subsidiary, MN Power Transmission Sdn Bhd, by a client providing infrastructure for hosting, data processing, and related services. The project scope includes construction, supply, installation, testing, and commissioning of the CLS, as well as building works, external works, and infrastructure utilities, ensuring the landing station is fully operational to meet the data centre’s power requirements.
The project started on 10 February 2026 and is expected to be completed by 17 December 2026. This follows a strong year for MN Holdings, which has already secured RM720 million in new contracts so far, exceeding earlier expectations.
According to AskEdge, MN Holdings trades at a 15.7 times trailing price-to-earnings (P/E) ratio, notably lower than peers such as UUE Holdings Bhd (60.7x), Kinergy Advancement Bhd (27.8x), Jati Tinggi Group Bhd (25x), and CBH Engineering Holdings Bhd (19.8x).
On Thursday, MN Holdings’ shares closed four sen lower at RM1.75, giving the company a market cap of RM1.16 billion, despite a 62% increase over the past year, reflecting strong confidence in its order book and growth prospects.
The CLS project reinforces MN Holdings’ expertise in high-voltage infrastructure and its ability to deliver large-scale, complex projects critical to the operation of data centres, a key component of Malaysia’s growing digital economy.
