Monday, September 25

Southern Cable bags RM83.2 mln contract from Sarawak Energy


The Sarawak Energy headquarters in Kuching. – File photo

KUALA LUMPUR (Nov 10): Southern Cable Group Bhd’s (Southern Cable) wholly-owned subsidiary, Southern Cable Sdn Bhd, has won an RM83.2 million contract to provide cables and conductors to Sarawak Energy Bhd.

The 18-month contract would run from Nov 1, 2022, until April 30, 2024, the Kedah-based company said in a filing with Bursa Malaysia today.

Southern Cable group managing director Tung Eng Hai said the sizeable contract signified Sarawak Energy’s confidence in the group’s manufacturing capabilities.

“We hope this will lead to increased tenders for us and, eventually, higher revenue contribution from East Malaysia,” he said in a press statement.

Tung said the group was optimistic about its prospects in Sarawak due to the vast opportunities that would be available from the government’s plan to invest more than RM100 billion in infrastructure and development.

With this new win, Southern Cable said, current orders in hand amounted to RM752.9 million, which would improve its earnings for the financial years ending Dec 31, 2022 until 2024.

“The current orders include the RM293.8 million supply contract secured from Tenaga Nasional Bhd in July 2022,” it added. — Bernama