MN Holdings Shares Rise On TNB Contract Win

KUALA LUMPUR, Aug 11 (Bernama) -- MN Holdings Bhd's share price rose today after the company announced that its wholly owned subsidiary, MN Utilities Engineering Sdn Bhd, secured a works contract from Tenaga Nasional Bhd (TNB) worth RM122.31 million.

According to its recent filing with Bursa Malaysia, the infrastructure utilities construction and engineering services provider said the contract was secured together with Pembinaan Tajri Sdn Bhd (PTSB) through an unincorporated joint venture (JV) arrangement.

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

At the lunch break, MN Holdings’ share price rose eight sen to RM3.20, with 3.69 million shares traded.

-- BERNAMA