KUALA LUMPUR (Sept 24): UUE Holdings Bhd’s (KL:UUE) unit has secured four contracts worth a combined S$9.3 million (RM29.7 million) for the supply and installation of 400-kilovolt (kV) power cables, auxiliary cables and accessories in Singapore.
UUE's wholly-owned subsidiary, Konnection Engineering Pte Ltd, secured the awards from Hong Kong Stock Exchange-listed Wee Guan Group, according to UUE’s bourse filing on Thursday.
The latest wins bring UUE’s financial year-to-date contract wins to RM127.9 million, which the group said would strengthen its order book and provide earnings visibility over the next two to three years.
SP PowerAssets Ltd is the principal across the four subcontracts, while Konnection has been tasked with installing all necessary materials and providing labour to undertake horizontal directional drilling works for the installation of high-density polyethylene pipes, in full compliance with SP PowerAssets Ltd’s contract specifications.
The works are expected to be completed by December 2028 and seen contributing positively to UUE’s earnings and net assets throughout the contract period.
UUE managing director Datuk Dr Ting Kok Hwa said in a statement the four subcontracts mark a strategic milestone for the group and reinforce its position as an underground utilities engineering solutions provider in Malaysia and Singapore.
“Singapore’s 400kV transmission network represents the pinnacle of national power infrastructure and demands the highest standards of technical precision, safety, and operational rigor,” Ting said.
He said the awards validate UUE’s execution capabilities against Singapore’s national utility standards, adding that the group remains committed to delivering the infrastructure projects safely, reliably and on schedule.
Founded in 2009, UUE is an underground utilities engineering solutions provider specialising in horizontal directional drilling (HDD) and the in-house manufacturing of high-density polyethene (HDPE) pipes.
It is accredited as a Grade G7 contractor by the Construction Industry Development Board Malaysia and registered with Singapore’s Building and Construction Authority as a Grade L5 contractor under CR07 for cable and pipe laying and road reinstatement works.
The group has also expanded into engineering, procurement, construction and commissioning of solar photovoltaic systems.
UUE’s share price closed down two sen or 2.58% to 75.5 sen on Thursday, giving the group a market capitalisation of RM689 million. The stock has gained over 40% since the start of this year.