KUALA LUMPUR (Nov 4): MN Holdings Bhd (KL:MNHLDG), an underground utilities and substation engineering specialist, has secured various contracts worth RM315 million since its new financial year started on July 1, 2024, pushing its order book to RM625.8 million.
These new contracts included three substation engineering projects with a total contract value of RM285.2 million, which it had announced from July to October.
“As to date, we have an order book of RM625.8 million, an increase of approximately RM192.5 million since the end of the last financial year ended 30 June 2024,” Datuk Dang Siong Diang, executive director of MN Holdings said in a statement on Monday.
“The order book will provide MN Holdings’ earnings for the next two to three financial years. The company will continue to enhance its order book through tenders, submission of private initiative proposals and business collaboration or acquisition,” he added.
Looking ahead, MN Holdings said it intends to persist in advancing and optimising its operational projects within the gas sector as the natural gas distribution system in Peninsular Malaysia is undergoing expansion.
These capital investments aim to enhance and expand the distribution network across the region, supporting the gas projects undertaken under the group's underground utilities segment.
In addition, the company anticipates significant growth opportunities in water and sewerage capital expenditure from major utility providers in the sector as the demand for clean, treated water, exacerbated by climate change, is placing increasing strain on Malaysia's water resources.
“Water and sewerage are crucial utilities for all new development projects,” Dang said, “As a result, companies specialising in underground utilities engineering services are positioned to benefit from capital investments aimed at designing, constructing, installing, repairing, and maintaining water and sewerage infrastructure,” he further added.
At the time of writing on Monday, MN Holdings shares were up a sen or 1.1% at 93 sen with a market capitalisation of RM450 million.