MN Holdings secures RM63mil contract from TNB

KUALA LUMPUR: MN Holdings Bhd 's wholly-owned subsidiary MN Power Transmission Sdn Bhd has received a RM63mil contract from Tenaga Nasional Bhd for the extension of new 1 X 132KV overhead lines battery energy storage system interconnection facilities bay at existing transmission main intake 132/11kV Santong (Air Insulated Switchgear) and new PMU 132/33kV Santong BESS (1x120MVA) (AIS). In a filing with Bursa Malaysia, the group said the contract shall be effective from Oct 30, 2024, and will be completed 540 days from the commencement date. MN Power Transmission shall be required to furnish a RM3.

15mil performance security for the contract, being 5% of the accepted contract amount. The contract is expected to contribute positively to the future earnings and earnings per share of the company..