KUALA LUMPUR (April 23): Sarawak-based Insights Analytics Bhd (KL:IAB) has secured a RM12.24 million subcontract for substation work in Sibu, Sarawak.
In a Bursa Malaysia filing on Thursday, the ACE Market-listed group said its wholly-owned unit, Insights Analytics Technologies Sdn Bhd, has accepted a letter of award from Tele Kenyalang Engineering Sdn Bhd for the construction, digitalisation and smart systems integration works at the Upper Lanang 33/11kV substation.
The contract, which also covers external works for the substation project, is scheduled to commence on May 7 and run for 16 months, with completion targeted for Sept 6, 2027.
Insights Analytics is principally involved in the provision of water technology solutions and intelligent asset management solutions.
This marks the group’s second major contract win this year, after securing a RM58.4 million Betong-Pusa Regional Water Supply Grid job in January, with the scope of work covering pipeline, mechanical, electrical and infrastructure works.
Shares of Insights Analytics closed up five sen or 3.16% to RM1.63 sen on Thursday, valuing the group at about RM896.5 million.
The stock debuted on the ACE Market in October 2025 with an initial public offering price of 36 sen per share. Since then, the stock has surged more than 350% from its listing price.