
KUALA LUMPUR (July 3): A joint venture (JV) led by Jati Tinggi Group Bhd (KL:JTGROUP) has secured a RM27.5 million contract to undertake dam safety enhancement works at four hydroelectric facilities in Perak.
Jati Tinggi said the JV between its wholly owned unit, Jati Tinggi Holding Sdn Bhd, and MFB Geotech Sdn Bhd was awarded by TNB Repair and Maintenance Sdn Bhd (TRMSB), a subsidiary of Tenaga Nasional Bhd (KL:TENAGA).
The contract involves remedial works on the spillway, slopes, and saddle dams at the four dam locations under the life extension programme for the Sungai Perak Hydroelectric Stations.
Jati Tinggi Holding holds a 90% participating interest in the project, and MFB Geotech the remaining 10%
The contract is scheduled to be completed within 407 days and expected to contribute positively to the group's earnings and net assets per share over the duration of the project, said Jati Tinggi.
Jati Tinggi’s shares closed up four sen or 6.78% at 63 sen on Friday, giving the company a market capitalisation of RM279 million. The stock has recovered 40% since its recent low of 45 sen in May.