NuEnergy secures RM10.1 million Labuan power project contract
NuEnergy Holdings Bhd is expanding its position in high-voltage power infrastructure through a new contract for interconnection facilities for a 120-megawatt power plant in Labuan. The project is targeted for completion in the third quarter of 2027 and is expected to contribute positively to the group's income, order book, revenue and profit.
Highlights
- NuEnergy has been awarded a RM10.1 million contract by KAB Energy Holdings to build Sabah Electricity interconnection facilities and plant infrastructure for Rancha Power.
- The contract marks NuEnergy's strategic expansion into the extra-high-voltage segment, strengthening its capacity to deliver complex infrastructure projects and large-scale connection systems.
- NuEnergy shares rose 1.56% to close at RM1.30, with a market capitalisation of RM253.53 million, recording gains of 109.68% year to date.
This article was translated from the original. Read the original version by our correspondent here.
Contract details and project scope
As reported by The Edge Malaysia, NuEnergy received a letter of award from KAB Energy Holdings to build Sabah Electricity interconnection facilities and related infrastructure for the plant, which is owned by Rancha Power.The renewable energy group said in a stock exchange filing on Friday that the contract is valued at RM10.1 million. The assignment further strengthens the company's presence in the high-voltage power infrastructure segment, particularly in system connections for large-scale generation assets.
According to the company, the project also marks a strategic expansion into the extra-high-voltage and interconnection facilities segment. NuEnergy said the successful execution of the letter of award would validate its technical capabilities and delivery capacity in completing complex infrastructure projects.
Business impact and share performance
NuEnergy expects the contract to make a positive contribution to the group's financial performance through higher income, order book, revenue and profit. At the same time, the successful completion of the project is expected to strengthen the company's position to pursue larger transmission, power infrastructure and high-voltage projects in the future.NuEnergy shares rose two sen, or 1.56%, to close at RM1.30 on Friday, giving the company a market capitalisation of RM253.53 million. Year to date, the shares have gained 109.68%.
In our previous report on Budget 2027 incentives for energy security and the green transition, we outlined the government's measures to accelerate the energy agenda through consumer rebates and major investments to strengthen the national grid. We also covered the extension of tax incentives until 2030, which is expected to boost private investment interest in clean energy infrastructure and energy-efficiency-related projects.
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