CEO Morning Brief

MN Holdings Bags RM18.5m Job for Substation Engineering Works

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Publish date: Thu, 21 Sep 2023, 08:52 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Sept 20): Underground utilities and substation engineering specialist MN Holdings Bhd has bagged a substation engineering contract worth RM18.5 million for GDS data centre (Plot 2) at Nusajaya Technology Park, Johor.

MN Holdings executive director Datuk Dang Siong Diang said this is the second contract awarded by GDS IDC Services (Malaysia) Sdn Bhd for its data centre in Johor. The first contract worth RM22.5 million was secured in October last year.

In a filing with Bursa Malaysia on Wednesday, MN Holdings said its wholly owned subsidiary MN Power Transmission Sdn Bhd has accepted a letter of award from GDS, a unit of Shanghai-based GDS Holdings Ltd, for its appointment as the contractor.

The contract's scope of work comprises design, supply, installation, maintenance, testing and commissioning for 132 kilovolt (kV) and 33kV of interim consumer landing station (CLS) for GDS data centre (Plot 2), including the dismantling of the existing 33/11kV CLS for GDS data centre (Plot 1) to be relocated to the new GDS Data Centre (Plot 2).

The latest contract is for 7½ months, commencing from Oct 1, 2023 to May 15, 2024.

GDS provides data centre services including data application processing and storage information technology consultancy services, trading, import and export of data centre equipment.

With the latest job win, MN Holdings' outstanding order book increased to a total value of RM384.27 million, which is expected to be progressively completed between 2023 and 2024.

MN Holdings shares closed up one sen or 3.08% at 33.5 sen, giving it a market capitalisation of RM134.86 million.

Source: TheEdge - 21 Sep 2023

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