MN holdings wins RM23.8 mil TNB contract

KUALA LUMPUR: MN Holdings Bhd, via its wholly-owned MN Power Transmission Sdn Bhd, has secured a substation engineering contract worth RM23.8 million from Tenaga Nasional Bhd (TNB).

In a statement today, the underground utilities and substation engineering specialist said the contract is to establish a new 132-kilovolt (kV) main intake substation (PMU) in Bekok, Johor.

Under the substation engineering contract, MN Power will supply, erect, test and commission the 132 kV PMU Bekok switching station, including remote end substation work complete with relevant primary, secondary and all associated civil works, said MN Holdings.

The contract is expected to be completed in 540 days from the commencement date.

MN Holdings executive director Datuk Dang Siong Diang said the contract is expected to contribute positively to the revenue and earnings of the company for the financial year ending June 30, 2024, and to the future earnings and net assets per share of the group.

"The contract is expected to strengthen and add credence to the company's track record in the underground utilities and substation engineering industry.

"We will continue to leverage our core competencies to bid for more contracts," he added. -- BERNAMA

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