KUALA LUMPUR: Underground utilities and substation engineering specialist MN Holdings Bhd (MNHB) has secured two underground utilities contracts worth RM10.5 million in Kedah and Kuala Lumpur.
The company's wholly-owned subsidiary, Mutu Nusantara Sdn Bhd (MNSB), has accepted a letter of award (LoA) from Orasko Sdn Bhd, appointing it to be the subcontractor to provide horizontal directional drilling (HDD) and open-cut construction works for RM8.1 million.
The contract scope of work comprises installing 33kV power cables and fibre optic cables to connect a multinational corporation's high-end integrated circuit substrate manufacturing facility to a new gas-insulated substation in Kulim Hi-Tech Park.
The project is under Nur Energy Services Sdn Bhd, a unit of Nur Power Sdn Bhd, the exclusive power utility firm for Kulim Hi-Tech Park.
The work for the contract is for 12 months, from August 2022 to August 2023.
For the second contract, MNSB has accepted an LoA from Mutiara Rini Sdn Bhd to provide specialist work for the relocation of 33kV power cable services via the open trenching method for RM2.4 million.
The open trenching contract is expected to be completed by February 2023.
MNHB executive director Datuk Clement Toh said the contracts are a testament to the company's growing capability and competency in the underground utility industry.
"With these new wins, MNHB has successfully increased its outstanding order book to RM272 million," he said in a statement today.
The two contracts are expected to contribute positively to the revenue and earnings of MNHB for the financial years ending (FY) 30 June 2023 and FY24, as well as to the future earnings and net asset per share of the group during the duration of the contract.