KLSE INVESTORS CLUB wrote a note · Sep 11, 2024 07:54

HEGROUP SECURED NEW CONTRACT WORTH 30.6m

$HEGROUP (0296.MY)$ has secured a contract worth RM30.6 million to build a 132kV power station for a proposed semiconductor manufacturing plant in the Ulu Klang Free Trade Zone.

The contract was awarded to Hexatech Engineering Sdn Bhd, a wholly owned subsidiary of HE Group, according to the mechanical, electrical and process contractor's filing on Tuesday.

$HEGROUP (0296.MY)$ reported a net profit of RM4.21 million on a revenue of RM48.9 million for its second quarter ended June 30, 2024 (2QFY2024), driven largely by its power distribution system that contributed RM31.87 million or 65.17% of total revenue.

$HEGROUP (0296.MY)$ is an electrical engineering service provider focusing on power distribution systems for end user premises such as industrial plants, and industrial and commercial substations. It is involved in the design, supply, installation, testing, and commissioning of HV, MV, LV, and ELV power distribution systems, as well as hook-up and retrofitting of electrical equipment. It also provides other building systems and works including mechanical systems, control, and instrumentation systems, as well as civil, structural, and architectural works. Its segment includes, namely the provision of power distribution systems, other building systems and works, electrical equipment hook-up and retrofitting, and trading sectors in Malaysia. Maximum revenue is generated from power distribution.

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