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MN Holdings' Unit Bags MYR122 Million Underground Cable System Contract

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MN Holdings' (KLSE:MNHLDG) subsidiary MN Utilities Engineering secured a 122.3 million ringgit contract from Tenaga Nasional via an unincorporated joint venture with Pembinaan Tajri, according to a Monday filing with Bursa Malaysia.

The contract covers the installation of a new double-circuit 132kV underground cable system between the Tasek Gelugor and Bertam main intake substations.

MN Utilities holds an 80% stake in the joint venture while Pembinaan holds the remaining 20%.

The project is scheduled for completion within 450 days from the official commencement date.

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