KUALA LUMPUR, Sept 7 (Bernama) -- MN Holdings Bhd’s (MNHB) wholly owned unit, MN Utilities Engineering Sdn Bhd (MNUE) and Pembinaan Tajri Sdn Bhd (PTSB) has bagged a contract for the installation of a new 275 kilovolt (kV) cable from Tenaga Nasional Bhd (TNB).
The contract, worth RM67.31 million, was secured via an unincorporated joint-venture (JV) arrangement between MNUE and PTSB.
In a filing to Bursa Malaysia today, MNHB said MNUE and PTSB received the contract award for the installation of new 275 kV reconfiguration underground cable from LILO Point to Intel Electronic Malaysia switching station for 275kV bulk supply to Intel Penang from TNB.
“Both MNUE and PTSB have agreed to collaborate and work together via an unincorporated JV for the contract,” it added.
Works will be in the proportion of 80 per cent (MNUE) and 20 per cent (PTSB) or such percentage proportion that is to be mutually agreed upon by both companies.
The contract shall be effective from Sept 4, 2026, with a completion period of 540 days from the commencement date.
The parties will be required to furnish a performance security worth RM3. 36 million being five per cent of the accepted contract amount within 56 days from Sept 4.
-- BERNAMA