Baccarat:MN Holdings bags underground utilities contracts valued at RM10.5mil

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KUALA LUMPUR: MN Holdings Bhd has secured two underground utilities contracts worth RM10.5mil in Kedah and Kuala Lumpur.

In a statement, the underground utilities and substation engineering specialist said its subsidiary Mutu Nusantara Sdn Bhd has accepted an award from Orasko Sdn Bhd to be the contractor to provide horizontal directional drilling and open cut construction works for RM8.1mil.

"The contract scope of work comprises installation of 33kV power cables and fiber optic cables to connect a multinational corporation’s high-end integrated circuit substrates manufacturing facility to a new gas insulated substation in Kulim Hi-Tech Park," it said.

The project is under Nur Energy Services Sdn Bhd, a unit of Nur Power Sdn Bhd, the exclusive power utility firm for Kulim Hi-Tech Park.

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The contract will be for a period of 12 months from August 2022 to August 2023.

In the second contract, Mutu Nusantara accepted an award from Mutiara Rini Sdn Bhd to provide specialist work for relocation of 33kV power cable services via open trenching method for RM2.4mil.

The contract is expected to be completed by February 2023.

“With these new wins, MNHB has successfully increased its outstanding order book to RM272mil,” said MN Holdings executive director Datuk Clement Toh.

The two contracts are expected to contribute positively to the revenue and earnings of the company for the financial years ending June 30, 2023, and FY24 as well as to the future earnings and net assets per share of the group during the duration of the contract.