Latest news with #RM92.4
The Star
2 days ago
- Business
- 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
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
UUE Holdings bags RM92.4m cable installation contracts from Komasi Engineering
UNDERGROUND utilities specialist UUE Holdings Bhd has secured contracts worth RM92.4 million from Komasi Engineering Sdn Bhd, a long-standing client. The deals include three new contracts and a RM13 million variation contract renewal, all related to the installation, testing, and commissioning of 11kV and 33kV underground cables within Tenaga Nasional Bhd's distribution network in Malaysia's east coast and southern regions. The renewed contract is expected to complete by June 2026, while the new contracts span two years with a one-year extension option. These awards bring UUE's total order wins for 2025 to RM184.5 million. –TMR
New Straits Times
2 days ago
- Business
- New Straits Times
UUE Holdings adds over RM92mil of new jobs
KUALA LUMPUR: UUE Holdings Bhd's subsidiary Kum Fatt Engineering Sdn Bhd has renewed its contract with Komasi Engineering Sdn Bhd and secured three new contracts from the same company, with a total value of RM92.4 million. In a statement, UUE said the renewed contract adds RM13.0 million in value, with completion targeted by June 2026. The original contract, awarded in 2022, involved the installation, testing, and commissioning of 11 kilovolt (kV) underground cables and related accessories within Tenaga Nasional Bhd's (TNB) distribution network in Malaysia's east coast region. Meanwhile, the three new contracts from Komasi Engineering, worth RM79.4 million, will involve the installation, testing, and commissioning of 11kV and 33kV underground cables and accessories within TNB's distribution network in Malaysia's east coast and southern regions. According to UUE, 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. UUE managing director Datuk Dr Ting Kok Hwa said the contracts reflects the confidence customers have in UUE's executional capabilities while providing the company with an opportunity to participate in the development of the country's critical infrastructure asset. "Looking ahead, UUE is committed on 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," he added. Ting noted that the contracts lift UUE's total order wins in calendar year 2025 to RM184.5 million. "This reflects the company's commitment of replenishing its order book, underpinned by its strong track record of timely project completion and consistent quality in meeting TNB's requirements for the nation's power distribution network. "The contracts are expected to contribute positively to the company's earnings and net assets, moving forward," he said.
New Straits Times
13-05-2025
- Business
- New Straits Times
Foreign funds maintain buying streak on Bursa with RM422.6mil net inflow
KUALA LUMPUR: Foreign investors sustained their buying momentum on Bursa Malaysia for the third straight week, recording a net inflow of RM422.6 million for the week ended May 9, according to MIDF Research. While the figure was lower than the RM853.8 million net inflow registered the previous week, foreign funds were net buyers on most trading days—excluding Monday and Thursday, which saw outflows of RM92.4 million and RM42.4 million, respectively. "Foreign investors were net buyers on every trading day except Monday and Thursday, which saw outflows of RM92.4 million and RM42.4 million respectively. "The highest net inflow was recorded on Wednesday at RM364.8 million, followed by Friday with RM135.1 million," the report said. MIDF Research noted that the utilities sector saw the highest net foreign inflow at RM253.3 million, followed by telecommunications and media with RM53.3 million, and financial services with RM51.1 million. On the other hand, the only sectors that experienced net foreign outflows were energy, which saw RM57.5 million in outflows, and technology with RM56.0 million. According to the firm, local institutions extended their streak of net selling to three consecutive weeks, with outflows amounting to RM397.8 million. "Meanwhile, local retail investors extended their trend of net selling to the fourth week, though the outflow eased to RM24.8 million compared to RM161.2 million the week before. "The average daily trading volume saw a broad-based increase last week. Local institutions and local retailers saw an increase of 8.6 per cent and 2.9 per cent respectively, while foreign investors saw an increase of 6.1 per cent," MIDF Research said.
