KUALA LUMPUR – Silver Ridge Holdings Bhd announced that its 51%-owned subsidiary, Total SR Web 3.0 Sdn Bhd, has secured a RM16.9 million contract for underground cable installation works.
In a filing with Bursa Malaysia on Friday, the telecommunications services provider said the contract was awarded by Elektron Berkat Sdn Bhd. The job involves installing IIKV aluminium XLPE cables and accessories across all zones of the distribution network division.
Silver Ridge said the contract is expected to positively impact the group’s earnings for the financial year ending June 30, 2025.
For the third quarter ended March 31, 2025, the group’s net profit surged over tenfold to RM327,000 from RM31,000 a year ago, driven by increased revenue of RM12.49 million, supported by new projects, especially in construction-related segments.
Silver Ridge shares, which have fallen more than 50% year-to-date, closed at 20 sen on Friday—up three sen or 14.29%—giving the company a market capitalisation of RM57.25 million.
