KUALA LUMPUR: Jati Tinggi Group Bhd's wholly-owned subsidiary, Jati Tinggi Holding Sdn Bhd (JTSHB), in collaboration with Worktime Engineering Sdn Bhd (WESB), has secured a RM25.5 million contract from Tenaga Nasional Bhd (TNB).
The contract involves providing a 132KV bulk supply to a semiconductor production factory in Kuala Lumpur.
According to a stock exchange filing, the contract is valued at RM25.5 million, covering materials and installation costs, excluding sales and service tax.
Jati Tinggi will receive 30 per cent of the contract's value, while Worktime Engineering will receive the remaining 70 per cent.
The contract starts on May 31, 2024, and is to be completed within a year.
"The contract is expected to contribute positively to the future earnings, earnings per share and net assets per share of Jati Tinggi over the duration of the contract," it said.
The stock price closed at 35 sen, marking a 4.41 per cent increase from yesterday's closing price of 34 sen.