Jati Tinggi wins RM39.9mil contract for 33kV cable project

KUALA LUMPUR: Jati Tinggi Group Bhd has secured a RM39.9mil contract from YM Teras Sdn Bhd to lay 33kV aluminium XLPE underground cables and accessories for asset development in Selangor.

In a filing with Bursa Malaysia, Jati Tinggi said its wholly-owned subsidiary, Jati Tinggi Holding Sdn Bhd accepted the letter of award (LOA) from YM Teras.

The contract will take effect from the acceptance date and must be completed within 660 days from that date.

“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,” Jati Tinggi said.