
KUALA LUMPUR (Aug 26): Eita Resources Bhd (KL:EITA) said its 60%-owned electrical substation specialist unit has secured a RM221 million substation extension contract from Sarawak state-owned Syarikat Sesco Bhd.
The job, awarded to TransSystem Continental Sdn Bhd, comprises the Mapai 500kV substation and Mapai 275kV substation extension project, said Eita Resources in a bourse filing on Wednesday.
Work is expected to be completed within 25 months and contribute positively to the company’s revenue and earnings over the next two financial years, it said.
The remaining 40% of TransSystem Continental is held by Leong Kee Chan and Said Anuar Said Ahmad, who each hold a 20% stake, according to the Companies Commission Malaysia.
Shares of Eita Resources ended Wednesday unchanged at 64 sen, valuing the company at RM193.16 million.