UUE hits 3-month high on RM92.4mil job wins
KUALA LUMPUR: UUE Holdings Bhd 's shares rose to their highest level in over three months in early Wednesday trade after the company secured RM92.4mil worth of underground cable contracts.
The underground utilities engineering solutions group added one sen, or 1.32%, to 76.5 sen at 9:39 a.m. — its highest level since mid-February. Year-to-date, however, the counter has declined about 14.04%.
UUE's wholly-owned subsidiary, Kum Fatt Engineering Sdn Bhd has renewed its contract with Komasi Engineering Sdn Bhd, and secured three additional contracts from the same company, bringing the total contract value to RM92.4mil.
The renewed contract encompasses the installation, testing and commissioning of 11 kilovolts (kV) underground cables within Tenaga Nasional Bhd 's distribution network and accessories for asset development in Malaysia's east coast region, for an additional contract value of RM13mil.
Meanwhile, the three new contracts from Komasi Engineering, worth RM79.4mil, entail the installation, testing, and commissioning of 11kV and 33kV underground cables and accessories within the TNB distribution network in Malaysia's east coast and southern regions.
For the financial year ended Feb 28, UUE posted a higher net profit of RM23mil, up from RM15.9mil a year earlier, while revenue rose to RM170mil from RM125.7mil previously. Earnings per share came in at 4.50 sen, compared with 3.30 sen in the preceding year.
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The Star
2 days ago
- The Star
UUE hits 3-month high on RM92.4mil job wins
KUALA LUMPUR: UUE Holdings Bhd 's shares rose to their highest level in over three months in early Wednesday trade after the company secured RM92.4mil worth of underground cable contracts. The underground utilities engineering solutions group added one sen, or 1.32%, to 76.5 sen at 9:39 a.m. — its highest level since mid-February. Year-to-date, however, the counter has declined about 14.04%. UUE's wholly-owned subsidiary, Kum Fatt Engineering Sdn Bhd has renewed its contract with Komasi Engineering Sdn Bhd, and secured three additional contracts from the same company, bringing the total contract value to RM92.4mil. The renewed contract encompasses the installation, testing and commissioning of 11 kilovolts (kV) underground cables within Tenaga Nasional Bhd 's distribution network and accessories for asset development in Malaysia's east coast region, for an additional contract value of RM13mil. Meanwhile, the three new contracts from Komasi Engineering, worth RM79.4mil, entail the installation, testing, and commissioning of 11kV and 33kV underground cables and accessories within the TNB distribution network in Malaysia's east coast and southern regions. For the financial year ended Feb 28, UUE posted a higher net profit of RM23mil, up from RM15.9mil a year earlier, while revenue rose to RM170mil from RM125.7mil previously. Earnings per share came in at 4.50 sen, compared with 3.30 sen in the preceding year.
The Star
2 days ago
- The Star
Trading ideas: Capital A, UUE, Sunway REIT, Encorp, Benalex, KNM, Destini, Kumpulan Kitacon
KUALA LUMPUR: Stocks to watch today include Capital A Bhd , UUE Holdings Bhd, Encorp Bhd , Benalec Holdings Bhd , KNM Group Bhd , Sunway Real Estate Investment Trust (Sunway REIT), Destini Bhd and Kumpulan Kitacon Bhd . UUE's subsidiary, Kum Fatt Engineering Sdn Bhd, has renewed its contract with Komasi Engineering Sdn Bhd and won three more contracts from them. The total value of the contracts is RM92.4mil. Capital A is nearing completion of its PN17 regularisation plan, with just 15-20% of the process left. Chief executive officer Tan Sri Tony Fernandes expects it to be finalised by July 2025 at the latest. Encorp has appointed Ahmad Harzimi Mohd Taib, 51, as its group chief executive officer (CEO), effective June 10, 2025. Benalec's unit has secured a two-year coal transport contract from TNB Fuel Services Sdn Bhd, worth up to 3.5 million metric tonnes annually, with potential earnings uplift starting FY2025. KNM is calling for a court-convened creditors' meeting to present its RM1.18 billion debt settlement scheme. It said the proposed scheme of arrangement (SoA) represents a significant milestone in KNM's financial recovery plan, offering a fair and sustainable solution to all stakeholders. Sunway REIT has appointed Ng Bee Lien (52) as its acting CEO, with effect from June 16. Its current CEO, Chen Kok Peng (42), has resigned to take up the position of chief financial officer (CFO) at Sunway Bhd . Sunway REIT said Ng will assume the role of CEO on an interim basis until a suitable candidate is identified and appointed. Destini has been awarded a tubular handling equipment and services contract from Hibiscus Oil & Gas Malaysia Ltd for operations in the PM3-CAA field, an operating oil and gas field in Vietnam-Malaysia. Kumpulan Kitacon's wholly-owned subsidiary, Kitacon Sdn Bhd, has secured a construction contract worth RM87.88mil from GLM Emerald West (Rawang) Sdn Bhd. Overnight, the S&P 500 climbed 0.55% to end the session at 6,038.81 points. The Nasdaq gained 0.63% to 19,714.99 points, while the Dow Jones Industrial Average rose 0.25% to 42,866.87 points.
The Star
2 days ago
- The Star
UUE secures contracts worth RM92.4mil from Komasi Engineering
KUALA LUMPUR: UUE Holdings Bhd's wholly-owned subsidiary, Kum Fatt Engineering Sdn Bhd has renewed its contract with Komasi Engineering Sdn Bhd, and secured three additional contracts from the same company, bringing the total contract value to RM92.4 million. The renewed contract encompasses the installation, testing and commissioning of 11 kilovolts (kV) underground cables within Tenaga Nasional Bhd 's (TNB) distribution network and accessories for asset development in Malaysia's east coast region, for an additional contract value of RM13 million. The project is targeted for completion by June 2026, UUE said in a Bursa Malaysia filing today. Meanwhile, the three new contracts from Komasi Engineering, worth RM79.4 million, entail the installation, testing, and commissioning of 11kV and 33kV underground cables and accessories within the TNB distribution network in Malaysia's east coast and southern regions. "These contracts are part of TNB's asset development initiatives, with a contract period spanning two years from the first issuance of the notice to start work. The contracts also include an option for a one-year extension,' it said. The contracts lift UUE's total order wins in calendar year 2025 to RM184.5 million. UUE managing director Datuk Dr Ting Kok Hwa said looking ahead, the group is committed to enhancing its business track record via exemplary execution of the contracts, which will allow UUE to secure more orders in the national energy infrastructure upgrade and development agenda. - Bernama
