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Hock Seng Lee consortium bags RM91m Sarawak Energy job

TheEdge Thu, Dec 27, 2018 01:08pm - 1 year ago

KUALA LUMPUR (Dec 27): Hock Seng Lee Bhd (HSL) announced today its consortium has been awarded a substation works contract in Kuching, Sarawak worth RM90.99 million.

The contract was awarded by Sarawak Energy Bhd to the Larsen & Toubro Ltd, HSL, and Larsen & Toubro (East Asia) Sdn Bhd consortium, in which HSL owns a 45% stake, it said in an exchange filing today.

Under the contract, HSL will be responsible for earth works, piling, civil infrastructure works, building, and related mechanical and electrical works of the Matang 275/132/33/kV substation project in Kuching.

The contract period for the completion and commissioning of the project is 32 months, commencing Jan 7, 2019.

HSL expects the contract to contribute positively to the group's earnings and net assets throughout the duration of the project.

At the noon break today, shares in HSL settled unchanged at RM1.33, valuing the group at RM730.86 million.

Related Stocks

HSL 1.060
MATANG 0.075


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