KUALA LUMPUR (Oct 25): Building management firm Cabnet Holdings Bhd (KL:CABNET) said on Friday that it has secured a RM22.5 million subcontract job in Johor Bahru.

Cabnet will be responsible for mechanical and electrical installation services for an unspecified project, according to a bourse filing. The work is set to commence on Oct 25 to be completed by November 2026, it noted.

The Johor-headquartered company will book earnings from the contract from the financial years ending Feb 28, 2025 (FY2025) to FY2027, it noted.

This would be the second contract Cabnet has secured since the beginning of the year. Earlier in June, Cabnet was appointed as the subcontractor for electrical works worth RM46 million for another project in Johor Bahru.

The company did not disclose its latest order book, though it had unbilled jobs worth about RM80 million at the end of May, according to its latest available financial statement.

The latest contract was awarded to its wholly owned unit, Cabnet M&R Sdn Bhd, by the Johor-based construction company Pamir Development Sdn Bhd.

Shares of Cabnet's shares have gained more than 45% year-to-date. The stock ended Friday at 33.5 sen, down 1.5 sen or 4.29%, ahead of the latest contract announcement. At the closing price, the company has a market capitalisation of RM59.9 million.