MN Holdings' JV Clinches RM122.31 Mln Works Contract From TNB

KUALA LUMPUR, Aug 10 (Bernama) -- Infrastructure utilities construction and engineering services provider MN Holdings Bhd’s wholly owned subsidiary MN Utilities Engineering Sdn Bhd has clinched a works contract from Tenaga Nasional Bhd (TNB) worth RM122.31 million.

The contract was received together with Pembinaan Tajri Sdn Bhd (PTSB) via an unincorporated joint venture (JV) arrangement, MN Holdings said in a filing with Bursa Malaysia today.

It said the contract involves the installation of a new double-circuit 132-kilovolt (kV) underground cable (two 180 megavolt-amperes (MVA) from the transmission main intake (PMU) Tasek Gelugor to PMU Bertam.

“The contract shall be effective from Aug 10, 2026, and the time for completion shall be 450 days from the commencement date.

“PTSB shall act as the project leader among the parties, and the parties shall be jointly and severally responsible and liable for the contract, including the execution and completion of the works within the contract period,” it said.

The company said the contract will not affect the issued share capital or the shareholding of MN Holdings’ substantial shareholders.

“However, it is expected to contribute positively to the future earnings and net assets per share of the company upon commencement of the contract,” it noted.

Meanwhile, MN Holdings managing director Datuk Clement Toh said the contract win further reinforces the company’s role in supporting Malaysia’s power transmission infrastructure.

“This award reflects the confidence placed in our capabilities to deliver critical underground utilities and power infrastructure works, particularly in projects that require strong technical expertise and execution discipline.

“This contract also adds to our track record in delivering essential infrastructure works for the country’s energy ecosystem,” he added.

-- BERNAMA