UUE Holdings Berhad has secured two contracts worth RM36.5 million from Komasi Engineering Sdn Bhd, to undertake underground cable installation and commissioning works within Tenaga Nasional Berhad's distribution network.
The first contract, valued at RM22 million, involves the installation, testing, and commissioning of 33kV underground cables and accessories for asset development in Terengganu and Kelantan. This contract is an extension of the original contract awarded in 2022, bringing the total contract value to RM44 million. This contract extension is set to run until October 2025, with a completion timeline of 9 months.
The second contract, valued at RM14.5 million, involves the installation, testing, and commissioning of 11kV underground cables and accessories for asset development in Johor. This contract is a renewal of the original contract awarded in 2022, raising the total contract value to RM43.6 million. The renewal will remain valid until December 2025, with a completion timeline of 11 months.
These contracts are anticipated to contribute positively to the Group's earnings and net assets until its expiration. The latest contract wins underscore UUE's ability to replenish its order book, driven by TNB's ongoing capital expenditure to upgrade utility infrastructure in line with the National Energy Transition Roadmap goal of achieving net-zero emissions by 2050.
