Hextar's Associate Company Wins RM427.50 Mln Contract

KUALA LUMPUR, May 16 (Bernama) -- Hextar Capital Bhd’s (HCB) associate company Transgrid Ventures Sdn Bhd (TGV) has won a RM427.50 million Tenaga Nasional Bhd (TNB) contract to establish a transmission main intake (PMU) 500/275 kilovolt (kV) gas-insulated substation (GIS) in Gurun East, Kedah.

In a Bursa Malaysia filing today, HCB said the contract, effective May 13, 2025, will end 730 days from the commencement date.

“The contract will not have any effect on the issued share capital and shareholding structure of the company. However, it is expected to contribute positively to the company’s future earnings and net assets per share upon its commencement,” it said.

HCB managing director Johnson Chang said the project marks another strategic milestone for TGV, reinforcing its capabilities in delivering large-scale, mission-critical infrastructure projects within the energy sector.

“It also reflects the confidence that TNB has in our engineering capabilities and further solidifies our role in supporting the national grid and the country’s energy development,” he added. 

Meanwhile, TGV chief executive officer and managing director Datuk Seri Nantha Kumar said it will be the first 500kV GIS project in Malaysia, and TGV is proud to be given the opportunity by TNB to design and build this maiden project.

“It is a significant milestone that reaffirms our capabilities and track record in high-voltage substation infrastructure,” he said. 

 HCB is a diversified company with operations in manufacturing, engineering services and trading, telecommunication network infrastructure solutions, power generation and transmission, construction and project management and money lending.

-- BERNAMA