Sarawak Cable wins RM257 mil contract from Petronas

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KUALA LUMPUR (Dec 5):  Sarawak Cable Bhd has been awarded a RM257 million contract from Petroliam Nasional Bhd (Petronas) for the construction of an overhead transmission line and a substation in Pengerang, Johor.

Based on a filing with Bursa Malaysia, Sarawak Cable’s wholly-owned subsidiary, Trenergy Infrastructure Sdn Bhd was awarded the contract for the engineering, procurement, construction and commissioning for the development of Pengerang 275kV overhead transmission line from Pengerang Cogeneration Plant to Peninsular Malaysia grid and a 275kV/132kV Pengerang substation.

“The project is expected to contribute positively to the earnings and net assets of Sarawak Cable group for the financial year ending Dec 31, 2015 and 2016,” said the company.

Both the overhead transmission line and substation are expected to be completed on Jul 21, 2016.

The company's share price closed unchanged at RM1.43 today, giving it a market capitalisation of RM394.02 million.