MN Holdings Berhad (MNHB) has announced that its wholly-owned subsidiary, Mutu Nusantara Sdn Bhd (MNSB), has accepted a Letter of Award (LOA) for the engineering, procurement, and construction of a substation for a data center located in the Southern Region of Peninsular Malaysia.
The contract, awarded by a company providing infrastructure for hosting and data processing services (referred to as “Company A”), is valued at RM180 million. MNHB, however, has not disclosed the identity of Company A due to a non-disclosure agreement between the parties.
The scope of work includes the supply of labor, equipment, and materials for the construction of the consumer landing station, installation of underground ducting for high-voltage cables, and ensuring switchgear readiness for external connections.
The project is set to commence on April 16, 2025, and is expected to be completed in the first half of 2026. Following completion, there will be an 18-month defect liability period.
MNHB states that the LOA is not expected to have any immediate effect on the company’s issued share capital or the shareholding of its substantial shareholders. However, the company anticipates that the project will contribute positively to its future earnings and net assets per share.
