KUALA LUMPUR (Oct 25): MN Holdings Bhd (KL:MNHLDG) has partnered with Protech Builders Sdn Bhd (PBSB) to jointly tender for sub-contract works for the construction of a data centre project.
However, it is unable to disclose the identity of the customer, as the customer is not agreeable to provide consent for disclosure, underground utilities and substation engineering specialist said in a bourse filing.
It also did not disclose the contract value of the sub-contract works.
MN Holdings said its wholly owned subsidiary, Mutu Nusantara Sdn Bhd (MNSB) has inked a joint venture agreement (JVA) with PBSB for the said sub-contract work.
Under the JVA, the work will be carried out by MNSB and PBSB on a 51:49 basis.
MNSB is the project leader and will undertake work related to the substation’s primary and secondary scope, testing and commissioning.
PBSB, meanwhile, is responsible for project management, 33 kilovolt (kV) cable works scope and cable bridge works.
MNSB is principally engaged in the provision of underground utilities engineering services and solutions, while PBSB is principally engaged in the construction of electrical installation and related accessories.
Under the JV, the works will be funded by the company’s internally generated funds and external borrowing.
The JV is expected to contribute positively to MN Holdings’ earnings and earnings per share for the financial year ending June 30, 2025.
MN Holdings’ share price closed unchanged at 90.5 sen, bringing the group a market capitalisation of RM438 million. Year-to-date, the stock has gained 71%.
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!
Source: EdgeProp.my
POST YOUR COMMENTS