KUALA LUMPUR (Oct 23): Cable manufacturer Master Tec Group Bhd (KL:MTEC) has secured a RM10.68 million subcontract for the supply, delivery, installation, testing, commissioning, completion and maintenance of electrical external infrastructure works.
In a filing with Bursa Malaysia, Master Tec said its subsidiary, Sediacom Sdn Bhd, has accepted the letter of award from a contractor involved in electrical and civil infrastructure works. No details were disclosed on the project owner, identified only as “Company A”, which the group said was omitted for confidentiality and commercial reasons.
The project is scheduled to be completed by June 2026.
Master Tec reported a 20.49% year-on-year decline in its net profit for the three months ended June 30, 2025 (2QFY2025) to RM6.92 million, due to higher costs, especially administrative expenses, despite a 43.89% increase in revenue to RM104.82 million.
The company attributed the higher administrative expenses to listing-related costs incurred for its proposed transfer to the Main Market, while finance and tax expenses also rose.
For the first half of FY2025, net profit dropped 16.83% to RM11.39 million from RM13.69 million in the same period last year, though revenue climbed by a quarter to RM175.06 million.
Master Tec, which debuted on the ACE Market in January 2024 at 39 sen per share, proposed to transfer its listing to the Main Market in May.
At Thursday’s close, the stock eased one sen or 0.88% to RM1.12, giving it a market capitalisation of RM1.14 billion.