Shares of Tenaga Nasional Bhd (TNB) edged lower, declining 0.14% to RM14.28 as of 12.24pm, with 8.37 million shares traded.
The utility giant opened at RM14.30 and moved between RM14.26 and RM14.36 during the trading session. The stock was trading slightly below its previous close of RM14.30, with selling volume standing at 2.43 million shares compared with 510,000 shares on the buying side.
The movement came after Master Tec Group Bhd announced that its subsidiary had secured a one-year optional contract extension from TNB worth RM109.54 million for the supply and delivery of underground cables and conductors for TNB’s Distribution Network Division.
The contract extension, which runs from 10 August 2026 to 9 August 2027, is part of Contract TNB104/2025. Including the latest extension and other optional components, the total contract framework value stands at approximately RM251.94 million.
The latest contract reflects continued investment in strengthening TNB’s electricity distribution network as demand for grid upgrades and infrastructure improvements grows.
