UUE Bags RM26.94m Underground Cables and Accessories Job

UUE Holdings Bhd's subsidiary, Kum Fatt Engineering Sdn Bhd has bagged two contracts with a sum of RM26.94 million for the installation, testing and commissioning of 11 kilovolt (kV) underground cables and accessories.

In its filing with Bursa Malaysia today, the company said its subsidiary has received letters of award (LoA) in respect of the contracts from Komasi Engineering Sdn Bhd and Sutera Utama Sdn Bhd.

It said the commencement date for the projects shall be notified later by both Komasi Engineering and Sutera Utama.

"The contract is expected to positively impact the company's earnings per share and net assets per share over the duration of the contracts," it said.

The LOA will not have any effect on the issued share capital and shareholding structure of the company.

The stock was up 2.7 per cent 95 sen a share, giving it a market capitalisation of RM577.9 million.