Cabnet wins RM22.5mil subcontract for M&E works in Johor

KUALA LUMPUR: Cabnet Holdings Bhd has secured a RM22.5mil contract from Pamir Development Sdn Bhd for M&E installation works for a project in Johor Bahru.

In a filing with Bursa Malaysia, Cabnet said its wholly-owned subsidiary, Cabnet M&E Sdn Bhd (CMESB), accepted the letter of award from Pamir Development, appointing CMESB as the nominated sub-contractor.

The sub-contract works are set to commence on Oct 25, 2024, and are scheduled for completion by Nov 19, 2026.

Cabnet expects the contract to contribute positively to the group’s earnings and net assets per share from the financial years ending Feb 28, 2025, to 2027.