MN Holdings Bags RM22.5 Million Substation Engineering Contract From GDS

Underground utilities and substation engineering specialist MN Holdings Berhadhas bagged a substation engineering contract worth RM22.5 million in Nusajaya Technology Park, Johor. 

The Company’s wholly-owned subsidiary MN Power Transmission Sdn Bhd received and accepted a letter of award from GDS IDC Services (Malaysia) Sdn Bhd for its appointment as the contractor.

The contract scope of work comprises design, supply, installation, maintenance, testing, and commissioning for 132KV and 33KV interim consumer landing stations for GDS data centre. 

GDS provides data centre services including data application processing and storage IT consultancy services, trading, and import, and export of data centre equipment. It is a unit of Shanghai-based GDS Holdings Limited, a leading developer and operator of high-performance data centres in China.

The contract will commence immediately and be completed by August 2023. 

Dang Siong Diang, Executive Director of MNHB said the award further demonstrates the Company’s progress in replenishing its order book of over RM290 million during this challenging period of rising inflation and interest rates.

Inclusive of the latest contract, MNHB has successfully increased its order book to approximately RM292 million.

The contract is expected to contribute positively to the revenue and earnings of the Company for the financial year ending 30 June 2023 and 2024 as well as to the future earnings and net assets per share of the group during the duration of the contract.

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