BUSINESS

EITA UNIT, SA CONTINENTAL CLINCH TNB CONTRACT WORTH RM36.25 MLN

26/05/2022 07:43 PM

KUALA LUMPUR, May 26 (Bernama) -- EITA Resources Bhd's 60 per cent-owned subsidiary TransSystem Continental Sdn Bhd (TSC) has, together with SA Continental Sdn Bhd, secured a RM36.25 million contract to undertake works at Tenaga Nasional Bhd's (TNB) substation in Kota Setar, Kedah.

TSC and SA Continental today received the letter of acceptance from TNB to undertake the asset replacement and refurbishment of primary and combined equipment at the 275-kilovolt (kV) substation.

In a filing with Bursa Malaysia, EITA said the contract would be completed within 900 days from the commencement date.

“TSC's scope of works for the contract includes the execution, implementation, financing and management of the contract, while SA Continental is responsible for the civil works for the contract,” it added.

EITA said the contract would not have any material effect on its net assets and gearing for the financial year ending Sept 30, 2022, and was expected to contribute positively to the group's earnings over the contract's duration.

TSC is a specialist in engineering, procurement, construction and commissioning of cabling works and high-voltage substations of up to 500kV. 

At the close today, EITA shares shed one sen to 80 sen, with 234,000 shares transacted. 

-- BERNAMA  

 


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