Note: This article has been amended for accuracy.

KUALA LUMPUR (Aug 26): PMW International Bhd (KL:PMW) has secured an additional RM19.31 million contract from Tenaga Nasional Bhd (KL:TENAGA) to supply spun concrete poles, raising the total value of its contracts with the utility firm to RM83.68 million.

The optional contract was awarded to its subsidiary PMW Concrete Industries Sdn Bhd on Aug 25, the concrete products manufacturer said in a filing on Wednesday.

The RM19.31 million contract represents the full 30% optional value under the initial RM64.37 million contract awarded in December 2024 for the supply and delivery of spun concrete poles of various sizes for Tenaga Nasional’s electricity distribution network.

Under the original agreement, Tenaga Nasional had the option to increase the contract value by up to 30% at the same prices and on the same terms.

PMW said the additional order is expected to contribute positively to its revenue and earnings for the financial year ending Dec 31, 2026, while providing greater visibility for its order book and supporting utilisation of its concrete pole manufacturing capacity.

Executive director and chief executive officer Lee Hon Hwa said the higher production volume is also expected to improve operational efficiency and economies of scale.

"With the group’s strong track record in the electrification projects of the nation, we look forward to participating in other relevant electricity infrastructure sectors including renewable energy integration, the development of data centres and other newly emerging power sectors,” he said in a press statement.

PMW, an integrated infrastructure solutions provider, manufactures pre-stressed spun concrete poles and piles as well as moulds and machinery, serving the electricity, telecommunications, infrastructure and lighting sectors.

In a separate filing, the group reported a net profit of RM4.99 million on revenue of RM53.07 million for the second quarter ended June 30, 2026 (2QFY2026). There are no year-on-year comparative figures as this is the group’s fourth interim financial report since its ACE Market listing last year.

Compared with the preceding quarter, revenue jumped 67.3% from RM31.73 million, while net profit more than doubled from RM2.05 million.

The stronger revenue was mainly driven by higher production and deliveries of spun poles and piles, which contributed RM35.63 million or 67.1% of quarterly revenue, alongside higher lighting fixture sales.

PMW said demand for its products continues to be supported by infrastructure spending, including highways, rail, public utility upgrades, ports, data centres and renewable energy projects, as well as Malaysia’s ongoing 5G rollout.

The group has also started construction of its Bemban manufacturing facility in Perak, which could more than double its spun pile capacity when fully operational in the second half of 2027. Construction of its planned Tanjung Manis facility in Sarawak is expected to begin this year.

Shares of PMW closed up 1.5 sen or 6.4% to 25 sen on Wednesday, giving the group a market value of RM223 million.