MN Holdings Bhd said its subsidiary, together with an engineering firm, has jointly secured a RM67.32 million contract from Tenaga Nasional Bhd to install an underground cable for bulk power supply to Intel Penang.
The wholly-owned subsidiary, MN Utilities Engineering Sdn Bhd, and Pembinaan Tajri Sdn Bhd will undertake the 275-kilovolt cable installation works through an 80:20 joint venture, MN Holdings said in a bourse filing on Monday.
Pembinaan Tajri, which was established in 1983, is involved in building and infrastructure works, according to the firm’s website.
MN Holdings said the scope of the underground cable job includes engineering, design, supply and erection works for the new underground cable, as well as associated civil works. The project is scheduled to be completed within 540 days.
The group said the contract is expected to contribute positively to its future earnings and net assets once works commence, underscoring the financial significance of the win for the company.
MN Holdings’ share price closed unchanged at RM3.65 on Monday, giving the group a market capitalisation of RM2.48 billion. Year-to-date, the stock has more than doubled from RM1.65, reflecting strong investor confidence in the company’s growing pipeline of infrastructure and power-related contracts.
This latest contract adds to MN Holdings’ expanding portfolio of power infrastructure projects, further reinforcing the group’s position within Malaysia’s power transmission and utilities sector as demand for reliable electricity supply continues to grow, particularly from high-profile industrial clients such as Intel.
