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MN Holdings Arm's MoU with China State Construction Engineering Expires on Completion of Term

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MN Holdings (KLSE:MNHLDG) said a memorandum of understanding between its wholly-owned subsidiary MN Power Transmission (MNPTSB) and China State Construction Engineering has expired upon completion of its term on Aug. 6, according to a Friday filing to the Malaysian stock exchange.

The MoU, which came into effect on Aug. 7, 2024, for a term of two years, was aimed at collaboration in procuring, developing, and undertaking any proposed projects, especially in the power industry.

Under the pact, the two companies would target customers in the data center, solar, and independent power plant sectors throughout Malaysia. The deal also aimed to expand the companies in other ASEAN countries.

The company's shares were up nearly 1% in recent trade.

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