Jati Tinggi secures RM15.7 million in TNB cable contracts
The awards cover underground cables in Selangor and monitoring equipment for a submarine power cable linking Kuala Perlis and Langkawi.
Jati Tinggi Group Bhd said it has won two jobs from Tenaga Nasional Bhd (TNB) with a combined value of RM15.7 million. The awards involve its wholly-owned subsidiary, Jati Tinggi Holding Sdn Bhd, with one undertaken through a joint venture.
In a bourse filing, the group said the RM13.44 million Selangor job covers installing 11kV underground cables and associated accessories, followed by testing and commissioning, for TNB’s distribution network. Its duration is 365 days, beginning when the start work notice is issued.
The other award, valued at RM2.27 million, went to an unincorporated joint venture between Jati Tinggi Holding and Ventura IOT Sdn Bhd. It involves installing a distributed acoustic sensing (DAS) system to monitor TNB’s 132kV submarine power cable connecting Kuala Perlis with Teluk Apau on Langkawi.
Jati Tinggi Holding owns 51% of the venture and Ventura IOT holds 49%. Completion is expected within 270 days, although the commencement date has yet to be determined.
According to the group, the awards take contract wins in the financial year to date to RM560.3 million. It reported an unbilled order book of RM1.1 billion.
Jati Tinggi shares ended trading at RM1.35, down four sen or 2.88%, giving the group a market value of RM597.95 million.
