Bintai Kinden Corporation Bhd has secured RM57.4 million power substation and power transformer contracts from Tenaga Nasional Berhad (“TNB”).
The Company’s wholly-owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd (“KBK”) had on 23 March 2022 accepted two Letters of Awards from TNB, appointing it to be the contractor for both contracts.
Under the power substation contract, KBK will supply, erect, test, and commission 275 kilovolts (kV) switching station in Malaysia-China Kuantan Industrial Park at Gebeng Pahang for RM31.5 million.
The second contract worth RM25.9 million will see KBK undertake the proposed 132kV power transformer extension in Elmina West at Shah Alam, Selangor.
The power substation contract is estimated to be completed within 24 months, and the power transformer contract within 18 months.
Encik Azri Azerai, Executive Director of Bintai Kinden said: “These new contracts won are expected to strengthen and add credence to the Company’s track record in the mechanical and engineering industry. We will continue to leverage on our core competencies to bid for more contracts.”
Both contracts are expected to contribute positively to the revenue and earnings of the Company for the financial years ending 31 March 2022 (FYE2022) and FYE2023 as well as to the future earnings and net assets per share of the Group during the duration of the contract.
Inclusive of the power substation and power transformer contracts, Bintai Kinden has successfully increased its outstanding order book to approximately RM170.9 million, which will provide a healthy earnings visibility for the next two financial years.
