Underground utilities and substation engineering specialist MN Holdings Berhad (MNH) has bagged an engineering, procurement, and construction (EPC) contract worth RM28.5 million for a large solar scale (LSS) plant in Machang, Terengganu.
The Company’s wholly-owned subsidiary MN Power Transmission Sdn Bhd received and accepted a letter award from Century Supplies Sdn Bhd, appointing it to be the sub-contractor for the project.
Under the contract, MN Power will undertake the electrical and civil engineering subcontract works for the development of 100-megawatt alternating current (MWac) interconnection facilities for the LSS plant.
The project is expected to be completed in December 2023.
Mr. Dang Siong Diang, Executive Director of said, the Company’s substation engineering segment continue to achieve a strong replenishment rate since its listing in April.
“This new contract wins further strengthen and add credence to our track record in the industry. We will continue to leverage on our core competencies as the underground utilities and substation engineering specialist to bid for more contracts,” he added.
MNHB has doubled its order book since its listing on the ACE Market of Bursa Malaysia Securities Berhad. The latest contract win provides a timely replenishment of the Company’s order book to approximately RM356.89 million, which will provide a healthy earnings visibility until 2025.
The contract is expected to contribute positively to the revenue and earnings of the Company for the financial years ending 30 June 2023 and 30 June 2024 and to net assets per share of the group during the duration of the contract.
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