Mestron Holdings Bhd has achieved a significant milestone in its Renewable Energy (RE) segment by securing an RM59.99 million contract for a large-scale solar project. This substantial contract has increased the RE order book value to RM71 million.
Mestron’s wholly-owned subsidiary, Mestron Engineering Sdn Bhd (MESB), received a Letter of Award (LoA) for the procurement of equipment and materials for a large-scale solar project worth RM59.99 million. The LoA was granted by Fabulous Sunview Sdn Bhd (FSSB), a subsidiary of Sunview Group Berhad, with the project’s commencement subject to the notice to proceed from FSSB.
The Group continues to actively engage in tendering for new projects, further expanding its order book to ensure a sustainable cash flow and revenue in the RE business segment.
Mestron’s Managing Director, Mr. Por Teong Eng, expressed the company’s commitment to expanding its business and delivering exceptional value in the RE sector through engineering excellence. He emphasized Mestron’s dedication to creating sustainable solutions for a greener future.
Mestron distinguishes itself by building a holistic ecosystem within the solar sub-sector. This includes offering solar financing, Engineering, Procurement, Construction, and Commissioning (EPCC) services, and venturing into project ownership. The Group has successfully implemented 1.3MW of solar projects under the government-endorsed net energy metering (NEM) scheme, strengthening its commitment to green energy and recurring income.
Por stated that Mestron is making significant strides in its commitment to sustainability, diversification strategy, and shareholder value enhancement. The expansion in the RE business, the large-scale solar project, and the solar integrated ecosystem signify a crucial step toward a more environmentally sustainable and energy-efficient future.
With a net profit of RM6.6 million as of 6MFY2023, Por is confident that Mestron will exceed its full FY2023 net profit target of RM10 million.