KUALA LUMPUR (March 8): Bintai Kinden Corp Bhd’s wholly-owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd has secured a contract worth RM9.78 million from Tenaga Nasional Bhd (TNB).

The company received a letter of award from the power company today to undertake the asset replacement and refurbishment for transformer, earthing transformer and reactor to PMU 275/33 KV Grik.

“Inclusive of this contract, Bintai Kinden has successfully increased its outstanding order book to approximately RM236.67 million, which will provide a healthy earnings visibility for the next two years,” said Bintai Kinden’s managing director Ong Choon Lui in a statement.

He added that the contract — which is slated to be completed in 540 days from its commencement date — is expected to contribute positively to the group’s revenue and earnings for the financial year ending March 31, 2021, as well as its future earnings and net assets per share throughout the contract duration.

At the noon break, Bintai Kinden was unchanged at 52 sen, with 6.75 million shares traded. This valued the company at RM194.36 million.