KUALA LUMPUR (Aug 26): MN Holdings Bhd (KL:MNHLDG), an infrastructure utilities construction and engineering company, saw its net profit nearly double in its recently closed financial quarter on a strong showing from its substation engineering segment, coupled with a reversal of impairment losses.

Net profit for the fourth quarter ended June 30, 2026 (4QFY2026) surged 98.8% to RM23.98 million from RM12.06 million a year earlier, according to the group’s bourse filing on Wednesday.

No dividend was declared with the latest quarterly results.

Revenue for the quarter increased 17.9% year-on-year to RM211.47 million from RM179.42 million, with the substation engineering segment posting a 24% rise in contribution on higher work progress and increased project activities. 

Bottomline was further helped by a net reversal of impairment losses on financial assets and contract assets of RM2.02 million, as compared with net impairment losses of RM9.72 million in 4QFY2025.

For the full financial year, net profit also nearly doubled from the previous year to a record high of RM92.14 million, as revenue jumped 60.8% to RM869.19 million.

The continued expansion of data centre developments is expected to remain a major demand catalyst for Malaysia’s power infrastructure outlook, MN Holdings said.

“The expected electricity demand growth is expected to support capital expenditures related to transmission reinforcement, substation expansion, grid interconnection and related power engineering works,” it noted.

Supported by an order book of RM1.64 billion, the group said it remains cautiously optimistic on its prospects and will continue to focus on timely project execution, selective tender participation, cost discipline and order book replenishment across power, renewable energy, data centre and water infrastructure segments.

Shares of MN ended nine sen or 2.47% lower at RM3.56 on Wednesday, valuing the group at RM2.39 billion.