UUE Holdings Bhd has secured a RM16 million contract for electrical system works at a factory in Tanjung Langsat, Johor.
In a filing with Bursa Malaysia on Friday, the group said the contract was awarded to its wholly owned subsidiary, Kum Fatt Engineering Sdn Bhd, which accepted the letter of award from Tianma Precision Sdn Bhd on April 10.
The scope of works includes the supply, delivery, installation and commissioning of 33kV and low-voltage electrical systems at a factory located in the Tanjung Langsat Industrial Area, Mukim Sungai Tiram, Johor.
The project is scheduled to commence on April 15 and is expected to be completed by Dec 15.
UUE said the contract is anticipated to contribute positively to the group’s earnings per share and net assets over the duration of the project.
Earlier, the group reported that its order book stood at RM508.5 million at the start of the year, providing earnings visibility over the next 12 to 36 months. Of this, approximately 62% comprises projects related to Tenaga Nasional Bhd.
On the market front, UUE shares rose five sen, or 13.7%, to close at 41.5 sen on Friday, giving the group a market capitalisation of RM378.66 million. Over the past year, the stock has gained 9.2%.
