KUALA LUMPUR, Aug 2 (Bernama) -- MN Holdings Bhd's share price edged up in the early trading session after its wholly-owned subsidiary, MN Power Transmission Sdn Bhd bagged a contract worth RM86 million from Tenaga Nasional Bhd (TNB).
At 10.30 am, MN Holdings’ shares inched up half-a-sen to 94.5 sen, with 2.83 million shares traded.
In a filing with Bursa Malaysia yesterday, the company said the contract entails the supply, erection, and commissioning of a 132/11-kilovolt Gas Insulated Substation in Pahang, including remote end substations work, complete with relevant secondary and ancillary equipment, as well as associated civil works.
In a note today, Hong Leong Investment Bank Bhd said with the new contract, MN Holdings’s order book has reached an all-time high of RM654.5 million.
“We anticipate more contract awards in the coming months, particularly from the corporate green power programme side.
“We raised our financial year of 2025/2026 (FY2025/2026) forecasts by six per cent, incorporating higher contract wins assumption of RM320 million for FY2025,” it said.
Hence, Hong Leong Investment Bank maintains its ‘buy’ call on MN Holding’s shares, with a higher target price of RM1.62 per share.
-- BERNAMA
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