KUALA LUMPUR (June 13): Johor-based underground utilities engineering solutions provider UUE Holdings Bhd (KL:UUE) has secured three new contracts worth RM83.4 million, further expanding its order book.
Announcement of the latest wins, secured from Sutera Utama Sdn Bhd, comes three days after UUE said it had bagged RM92.4 million worth of deals. With these additions, the company’s order book has reached a record high of RM416 million, providing earnings visibility for the next two to three years, it said in a bourse filing.
Sutera Utama, a general contractor, is jointly owned by Mohamad Zailan Melan and Wan Mohd Azmir Wan Mohd Affandi, based on a brief check with the Companies Commission Malaysia.
The new contracts involve the installation and commissioning of 11kV and 33kV underground cables and accessories within Tenaga Nasional Bhd’s (KL:TENAGA) distribution network in the northern and southern regions, according to UUE. The contracts span two years from the initial work commencement notice, with an option for a one-year extension.
“We are steadfast in our commitment to delivering each project efficiently and in full compliance with TNB’s quality standards, ultimately creating long-term value for our shareholders,” said UUE managing director Datuk Dr Ting Kok Hwa.
Shares of UUE closed down two sen or 2.7% at 73.5 sen on Friday, valuing the group at RM447.09 million. Year to date, the stock has fallen 15%.