KUALA LUMPUR: MN Holdings Bhd (MNHB) has secured four new contracts for its substation engineering and underground utilities services and solutions business segments worth a total of RM27.0 million combined.

The contracts are expected to contribute positively to the revenue and earnings of the company for the financial years ending June 30, 2023 (FY23) and FY24, as well as to the future earnings and net assets per share during the duration of the contract.

"We are off to a good start. With these new wins, MNHB has successfully increased its outstanding order book to approximately RM192.0 million," said the company's executive director Datuk Clement Toh.

The first contract was secured by the company's wholly-owned subsidiary MN Power Transmission Sdn Bhd (MNPower), to carry out design and construction works for the extension of two air-insulated substations at Raub, Pahang, for RM16.9 million.

The substation contract was awarded by Tenaga Nasional Bhd and is expected to be completed in December 2023.

The other three contracts were awarded to Mutu Nusantara Sdn Bhd, another wholly-owned subsidiary of MNHB Group.

Mutu Nusantara has received a letter of award (LOA) from KL-Kepong Oleomas Sdn Bhd to provide horizontal directional drilling (HDD) construction works for RM4.3 million.

The contract scope involves supply, delivery, installation, test, commission and handover of HDD construction works for the proposed smart storage unit substation at Oleochemical KLK Factory in Klang, Selangor.

The contract is expected to be completed in March next year.

Mutu Nusantara also received an award from Top Synthetic Rubber Sdn Bhd, a Top Glove Corporation Bhd unit, to provide HDD construction work for RM3.5 million.

Additionally, Mutu Nusantara has received a LoA from Impiana Mahir Sdn Bhd, appointing it as the sub-contractor to provide HDD construction works for RM2.3 million.