MN Holdings Berhad (“MN Holdings” or “Company”), a leading infrastructure utilities construction and engineering solutions specialist in Malaysia, today announced that its wholly-owned subsidiary, MN Utilities Engineering Sdn. Bhd. (“MNUE”), together with Pembinaan Tajri Sdn. Bhd. (“PTSB”), has secured a contract from Tenaga Nasional Berhad (“TNB”) for the installation of a new Double Circuit 132 kilovolt (“kV”) Underground Cable from PMU Tasek Gelugor to PMU Bertam.
The contract, awarded via an unincorporated joint venture arrangement between MNUE and PTSB, carries an accepted contract amount of RM122.31 million, inclusive of Sales and Service Tax and except all import duties. Under the arrangement, MNUE and PTSB will be jointly and severally responsible for the execution and completion of the works, with MNUE responsible for 80% scope of works and PTSB handling the remaining 20%.
The scope of works involves the installation of a new Double Circuit 132kV Underground Cable with a capacity of 2×180 Mega Volt-Amperes (“MVA”) from PMU Tasek Gelugor to PMU Bertam. The works include engineering, design, supply and erection works for the new 132kV cable system, together with all associated works including obtaining permits from relevant stakeholders, reinstatement and restoration of surfaces and existing structures, as well as cleaning of work areas. The contract is effective from 10 August 2026 and is expected to be completed within 450 days from the commencement date.
Dato’ Clement Toh, Managing Director of MN Holdings, said, “We are pleased to secure this contract from TNB, which further reinforces MN Holdings’ role in supporting Malaysia’s power transmission infrastructure. This award reflects the confidence placed in our capabilities to deliver critical underground utilities and power infrastructure works, particularly in projects that require strong technical expertise and execution discipline.”
He added, “As Malaysia continues to invest in strengthening its power infrastructure to support rising electricity demand, grid reliability and long-term energy needs, MN Holdings remains focused on capturing opportunities within the utilities and power infrastructure segments. This contract also adds to our track record in delivering essential infrastructure works for the country’s energy ecosystem.”
The contract is expected to contribute positively to the future earnings and net assets per share of MN Holdings upon commencement of the works. The award also demonstrates the Group’s continued ability to secure infrastructure projects beyond the data centre segment, reinforcing its broader role in supporting Malaysia’s critical power, utilities and energy infrastructure development.
