CEO Morning Brief

MN Holdings Sees Order Book Rising to RM366 mil on Securing Project Worth RM40 Mil

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Publish date: Fri, 15 Sep 2023, 08:43 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Sept 14): MN Holdings Bhd’s current outstanding order book rose to RM365.77 million, after it secured a turnkey project worth RM40.1 million to build the main distribution substation (PPU) network in Teluk Intan.

In a statement to the bourse on Thursday, the underground utilities and substation engineering specialist said its unit Mutu Nusantara Sdn Bhd (“Mutu Nusantara”) had accepted a letter of award (LOA) from Taraf Nusantara Sdn Bhd, a unit of Lagenda Properties Bhd, appointing it to be the contractor for the project.

Under the LOA, Mutu Nusantara will be responsible for the design, engineering, procurement, fabrication and assembly of the 33 kilovolt (“KV”) cable connection works, MN Holdings said.

Mutu Nusantara will also undertake the construction, testing, commissioning, monitoring and assessment to the two-storey power processing unit (PPU) 33/11KV, and associated with mechanical and electrical main component like medium voltage switchgear, 30 megavolt amperes transformer, and the civil infrastructure work at the PPU building compound.

MN Holdings said the project will commence in September 2023 and is slated for completion by September 2024.

Its managing director Datuk Loy Siong Hay said the company’s core expertise in underground utilities and substation engineering allows it to provide turnkey solutions to its clients from various industries.

“MN Holdings is capable of undertaking a comprehensive range of services for underground utilities engineering projects.

“At the same time, the company is capable of providing integrated solutions with executive capabilities for substation engineering projects,” he said.

At midday break on Thursday, MN Holdings gained 1.47% or 0.5 sen to 34.5 sen, with 4.16 million shares done.

Source: TheEdge - 15 Sep 2023

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