CEO Morning Brief

EITA Unit Bags RM56.3 Mil Substation Rehabilitation Job From TNB

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Publish date: Tue, 05 Dec 2023, 09:04 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Dec 4): EITA Resources Bhd said its subsidiary has secured a contract from Tenaga Nasional Bhd (TNB) to rehabilitate a main intake substation in Kedah for RM56.31 million.

According to a bourse filing on Monday, EITA said its 60%-owned TransSystem Continental Sdn Bhd (TSC) received a letter of acceptance from TNB for the "rehabilitation of PMU 132/11kV Gurun (Rehab), Kedah”.

“TSC’s scope of works for the contract includes supply, erect, test and commissioning of a new 132kV conventional outdoor transmission substation to replace the existing old station,” it said, adding that other works include civil, transmission lines and remote ends relay retrofits.

EITA noted the contract shall be effective from end-November 2023 and span two years (730 days).

The group said the contract is expected to contribute positively to the earnings of the group throughout the contract.

According to EITA’s 2022 annual report, TSC is a civil, electrical engineering and general contractor outfit.

Shares in EITA ended two sen or 2.38% lower to 82 sen on Monday, giving the group a market capitalisation of RM213.76 million.

Source: TheEdge - 5 Dec 2023

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