Malakoff picks MMC Engineering for RM34.39 million WTE connection works
The contractor belongs to MMC Corp, Malakoff’s largest shareholder with a 38.45% stake. Completion is scheduled by May 19, 2029.
MMC Engineering Sdn Bhd has received a RM34.39 million contract from Malakoff Corp Bhd for electricity transmission and interconnection infrastructure serving its Sungai Udang waste-to-energy (WTE) facility in Melaka, Malakoff said in a bourse filing.
The contracting parties are Sungai Udang WTE Sdn Bhd, a Malakoff subsidiary, and MMC Engineering. The latter belongs to MMC Corp Bhd, whose 38.45% holding makes it Malakoff’s largest shareholder.
The project involves a 33kV link between the WTE facility and Tenaga Nasional Bhd’s Main Intake Substation Cheng in Melaka. Its scope includes engineering and design, procurement and manufacturing, supply and construction, as well as installation, testing and commissioning. Associated facilities and an underground transmission cable system are also covered.
Malakoff put the scheduled completion date at May 19, 2029. It said the deal formed part of its ordinary business activities, was conducted at arm’s length under normal commercial terms and would not harm minority shareholders’ interests.
Datuk Mohd Nazrul Izam Mansor is deemed interested in the deal. He holds a non-independent non-executive directorship at Malakoff and serves MMC Corp as a director and group chief executive officer.
Malakoff’s closing share price was unchanged at 75.5 sen, putting its market value at RM3.77 billion.
