KUALA LUMPUR (March 7): MN Holdings Bhd (KL:MNHLDG) has secured a RM58.2 million contract from Tenaga Nasional Bhd (KL:TENAGA) for the construction of a new transmission main intake gas-insulated substation (GIS) in Chuping Valley Industrial Area, Perlis.
MN Holdings' contract covers the supply, erection, testing, commissioning and associated civil works, along with underground utilities of the 132/33 kV GIS.
The contract awarded to its wholly-owned subsidiary MN Power Transmission Sdn Bhd (MNPTSB) is effective from March 6, 2025 and will run for 840 days, said MN Holdings.
Under the contract, MNPTSB must provide a performance security of RM2.91 million, or 5% of the contract value, within 56 days from March 6, 2025.
At the noon market break, MN Holdings’s share price was down two sen, or 1.9% at RM1.02, giving it a market capitalisation of RM570 million. The stock has gained 53% over the past one year.
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