Latest news with #EPESwitchgear
The Star
04-08-2025
- Business
- The Star
Pekat wins RM31mil switchgear job from TNB
PETALING JAYA: Pekat Group Bhd 's indirect 60%-owned subsidiary EPE Switchgear (M) Sdn Bhd has secured a RM31.32mil switchgear maintenance and repair job from Tenaga Nasional Bhd (TNB). In a filing with Bursa Malaysia, the solar energy firm said EPE Switchgear will undertake the maintenance, servicing and repair works of air insulated switchgears and gas insulated switchgears, including supply and installation of spare parts, as per TNB's requirements and specifications. 'The contract shall be effective from Aug 1, 2025, being the date of the LOA. The contract period shall be two years from the effective date, with an additional option for another one year.' Pekat added that the duration for each particular service shall be based on the purchase order issued by TNB. 'EPE Switchgear is required to furnish a performance security for the sum of RM0.39mil within 28 days from the date of the LOA. 'The contract secured is expected to contribute positively towards the future earnings, earnings per share and net assets per share of Pekat and its subsidiaries for the financial year ending Dec 31, 2025 until the expiry of the contract.'
New Straits Times
04-08-2025
- Business
- New Straits Times
Pekat Group wins RM31.32mil contract from TNB
KUALA LUMPUR: Pekat Group Bhd's unit EPE Switchgear (M) Sdn Bhd has bagged a RM31.32 miilion contract from Tenaga Nasional Bhd (TNB). In a filing with Bursa Malaysia, Pekat said the contract involves maintenance and repair works of air insulated switchgear (AIS) and gas insulated switchgear (GIS) bearing the EPE brand. This includes the supply and installation of spare parts for TNB's distribution network division. Under the contract terms, EPE Switchgear will undertake the works over a two-year period from the effective date of Aug 1, with an optional one-year extension. TNB will issue specific purchase orders for each service required during the contract period. As part of the agreement, EPE Switchgear is required to provide a performance security amounting to RM390,000 within 28 days and to procure all necessary insurance coverage before the contract commences. Pekat said the contract is expected to contribute positively to earnings and net assets for the financial year ending Dec 31, 2025 and throughout the contract duration.
Malaysian Reserve
19-05-2025
- Business
- Malaysian Reserve
Pekat lands another TNB contract, retains 'Buy' with higher target price of RM1.57
PEKAT Group Bhd has retained its 'Buy' call for its counter with a 52-week target price of RM1.57, up from RM1.30, at Phillip Securities Sdn Bhd. In a research note released today, Phillip Securities said it continued to like Pekat for its synergistic businesses that are set to benefit from Malaysia's RE initiatives. EPE Switchgear (M) Sdn Bhd, an indirect 60%-owned subsidiary of the company, had on May 15 received a letter of award dated May 9 May from Tenaga Nasional Bhd (TNB) for a tender submitted in relation to the supply, installation, testing, and commissioning of 33 kilovolt (kV) gas insulated switchgear & 11kV GIS and additional equipment for TNB's distribution network. The two-year period contract is priced at RM135.24 million, inclusive of sales and service tax, Pekat said in an exchange filing on Friday. Phillip Securities noted that this was the second long-term contract secured by EPE Switchgear in 2025, bringing year-to-date (YTD) new contract wins to RM232.5 million, well on track to meet its full-year replenishment assumption of RM240 million. Based on EPE Switchgear's historical net profit margin of 10–12%, it estimated that the contract would contribute RM14 million to 16 million net profit (PAT) over 2025-27E. It said the contract also suggested potential upside to EPE Switchgear's RM16 million annual profit guarantee. The Kota Damansara, Selangor based company is a solar photovoltaic (PV) supplier as well as earth termination and surge protection systems. –TMR
