Latest news with #JohnsonChang
New Straits Times
16-05-2025
- Business
- New Straits Times
Hextar's associate company wins RM427.50mil contract
KUALA LUMPUR: Hextar Capital Bhd's (HCB) associate company Transgrid Ventures Sdn Bhd (TGV) has won a RM427.50 million Tenaga Nasional Bhd (TNB) contract to establish a transmission main intake (PMU) 500/275 kilovolt (kV) gas-insulated substation (GIS) in Gurun East, Kedah. In a Bursa Malaysia filing today, HCB said the contract, effective May 13, 2025, will end 730 days from the commencement date. "The contract will not have any effect on the issued share capital and shareholding structure of the company. However, it is expected to contribute positively to the company's future earnings and net assets per share upon its commencement," it said. HCB managing director Johnson Chang said the project marks another strategic milestone for TGV, reinforcing its capabilities in delivering large-scale, mission-critical infrastructure projects within the energy sector. "It also reflects the confidence that TNB has in our engineering capabilities and further solidifies our role in supporting the national grid and the country's energy development," he added. Meanwhile, TGV chief executive officer and managing director Datuk Seri Nantha Kumar said it will be the first 500kV GIS project in Malaysia, and TGV is proud to be given the opportunity by TNB to design and build this maiden project. "It is a significant milestone that reaffirms our capabilities and track record in high-voltage substation infrastructure," he said. HCB is a diversified company with operations in manufacturing, engineering services and trading, telecommunication network infrastructure solutions, power generation and transmission, construction and project management and money lending.
The Star
16-05-2025
- Business
- The Star
Hextar Capital associate bags RM427.5mil TNB contract
KUALA LUMPUR: An associate company of Hextar Capital Bhd has secured a RM427.5mil contract by Tenaga Nasional Bhd for the establishment of a transmission main intake (PMU) 500/275kV gas insulated substation (GIS) in Gurun East, Kedah. In a press statement, Hextar Capital said Transgrid Ventures Sdn Bhd, a joint venture with CD Electrical Engineering Sdn Bhd, will supply, install and commission the GIS, complete with all primary and secondary systems as well as associated civil works. The contract is scheduled for completion within 730 days from the commencement date. "This project marks another strategic milestone for Transgrid and reinforces its capabilities in delivering large-scale, mission-critical infrastructure projects within the energy sector. "It also reflects the confidence that TNB has in our engineering capabilities and further solidifies our role in supporting the national grid and the country's energy development," said Hextar Capital managing director Johnson Chang. He added that the project is expected to contribute positively to the group's mid-term performance and order book visibility. "This will be the first 500kV GIS project in Malaysia, and Transgrid is proud to be given the opportunity by Tenaga Nasional to design and build this maiden project. "It is a significant milestone that reaffirms our capabilities and track record in high-voltage substation infrastructure," said Transgrid CEO and managing director Datuk Sri Nantha.
