Latest news with #UUE
The Star
2 hours 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
New Straits Times
2 hours 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.
The Star
7 days ago
- Business
- The Star
UUE to venture into solar PV via unit Enerxite
PETALING JAYA: UUE Holdings Bhd will venture into the solar photovoltaic (PV) industry through a 60% owned subsidiary called Enerxite Sdn Bhd. The joint venture (JV) partner Daryl Lai Yit Sheng, 36, will hold the remaining equity stake in Enerxite. UUE said in a statement that the mechanical engineer would lead and spearhead UUE's venture into the renewable energy (RE) sector. It would subscribe for the equity stake in Enerxite by investing RM599,990, a company in which it already has an initial paid-up capital of RM10. Lai would subscribe his portion in Enerxite for RM400,000 in cash, it said. 'UUE has identified the RE sector as a potential business segment which the group believes can be developed given the favourable potential of sustainable renewal energy sources. 'UUE intends to begin its involvement in this business industry with the engineering, procurement, construction and commissioning of solar PV systems for a start and progressively immerse itself into other segments,' it said. 'UUE, as the primary capital contributor and corporate owner, will provide strategic direction and corporate governance oversight. 'Lai will contribute technical expertise, industry knowledge and practical experience in the RE sector,' the company pointed out.
