KUALA LUMPUR (Oct 12): MN Holdings Bhd (KL:MNHLDG) has secured a RM293.88 million contract to build two high-voltage power facilities for a data centre development in the central region of Peninsular Malaysia.
In a bourse filing on Monday, the infrastructure utilities construction and engineering group said its wholly-owned MN Power Transmission Sdn Bhd had accepted a letter of award (LOA) from an undisclosed Malaysian company involved in providing infrastructure for hosting, data processing and related services.
The exact location of the project was also not disclosed.
The contract involves the construction of two 275-kilovolt (kV) consumer landing stations.
Under the contract, MN Power Transmission will undertake the construction, supply, installation, testing and commissioning of the facilities, including main buildings and related external works.
Construction began in September 2026 and is expected to be completed by August 2027.
MN Holdings executive director Datuk Dang Siong Diang said the contract reflected continued demand for high-voltage power infrastructure to support large-scale data centre developments in Malaysia.
"Our experience in delivering high-voltage substations and power infrastructure positions us well to participate in this growing segment, and we remain focused on executing these projects effectively while continuing to pursue opportunities across the power infrastructure, data centre and utilities sectors across Peninsular Malaysia," he said in a statement.
As at end-June 2026, MN Holdings had an outstanding order book of RM1.64 billion, with projects across the power, renewable energy, data centre and water infrastructure segments.
The group recently closed its financial year ended June 30, 2026 with a near doubling of annual profit to a record RM92.14 million, as revenue jumped 60.8% to RM869.19 million.
This comes as it reported a 98.8% surge in its fourth-quarter net profit to RM23.98 million from RM12.06 million a year earlier, driven by stronger contributions from its substation engineering segment and a reversal of impairment losses.
Quarterly revenue rose 17.9% to RM211.47 million from RM179.42 million, with the substation engineering segment recording a 24% increase in contribution on higher work progress and project activities.
MN Holdings shares rose three sen or 0.76% to close at RM3.96 on Monday, valuing the group at RM2.74 billion. The counted has gained more than 135% year to date.