KUALA LUMPUR (Feb 14): Master Tec Group Bhd’s (KL:MTEC) wholly-owned subsidiary Master Tec Wire & Cable Sdn Bhd has bagged a supply contract from Tenaga Nasional Bhd (KL:TENAGA) worth RM107.75 million.
According to the company’s bourse filing, the contract is related to the supply and delivery of underground cables as well as conductors of various sizes to cater for Tenaga’s distribution network.
The contract has a duration of one year as well as an option to extend for another one year. As such, Master Tec believes that the new contract will contribute positively towards its earnings and net assets per share in FY2025 and FY2026.
Master Tec’s shares, which hit a high of RM1.69 in June last year, last traded at RM1.03 on Friday, valuing the company at RM1.05 billion. Listed on Jan 29 last year, the stock is still up 2.64 times against its listing price of 39 sen.
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