PETALING JAYA: Jati Tinggi Group Bhd
(JTGB) has accepted a letter of award (LoA) form Worktime Engineering Sdn Bhd to perform sub-contract works to lay 33 kilovolts of aluminium XLPE underground cables and accessories in Selangor, worth RM41.07mil.
In a filing with Bursa Malaysia, JTGB said the scope of works would include the erection of power cables, fibre optic cables, joint and termination works together with all ancillary works.
“The contract shall commence on Aug 20, 2024 and for a contract period of 22 months.”
JTGB said the LoA is expected to contribute positively to the future earnings, earnings per share and net assets per share of the company over the duration of the contract.
“The LoA will not have any effect on the share capital and the shareholdings of the substantial shareholders of the company.
“The board of directors of JTGB, having considered all aspects of the LoA, is of the opinion that the acceptance of the LoA is in the best interest of the company,” it said.
