Southern Cable Group Berhad saw its orders in hand grow to RM609.3 million from RM578.4 million as at 31 December 2022, after receiving a contract addendum from Tenaga Nasional Berhad.
With the addendum, the Group’s amended contract with TNB to supply underground cables and conductors increased to RM332.1 million, from RM293.8 million originally.
Mr. Tung Eng Hai Managing Director “We adopt a positive outlook for 2023, as projects across various industries such as power, construction, and infrastructure have recorded a strong return in activity levels. Additionally, the recently re-tabled Budget 2023, with its focus on high impact projects, will contribute to further growth in demand for cables and wires.
The contract addendum by TNB bolsters our orders in hand for the year and attests to the improving market conditions. Furthermore, we are pursuing more business as tender flows for new projects have resumed in strength, thus supporting a positive outlook going forward.”
The Group’s current orders in hand will be fulfilled until 2024, comprising power cables and wires, and related products and services such as aluminium rods, as well as supply and installation of rectifier systems for 5G network.
