CORP BRIEF: SunCon, TNB, Nestcon and Econpile

By TMR

SunCon’s 2Q net profit surges to RM8m 

SUNWAY Construction Group Bhd (SunCon) posted a net profit of RM8.32 million in the second quarter ended June 30, 2021 (2Q21), from RM2.19 million a year ago supported by both its construction and precast segment. In a filing to Bursa Malaysia yesterday, SunCon announced its revenue increased 100% to RM375.27 million compared to RM140.18 in the corresponding quarter due to both construction and a precast segment. SunCon’s outstanding orderbook stands at RM4.8 billion with RM620 million new orders secured up to June 2021.


TNB signs PPAs with 9 firms on LSS 

TENAGA Nasional Bhd (TNB) has signed Large Scale Solar (LSS) photovoltaic power purchase agreements (PPAs) with nine special purpose companies incorporated by the successful bidders. In a filing yesterday, TNB said it had signed the agreement with Asiabina Solar Sdn Bhd, Classic Solar Farm Sdn Bhd, GBS Suria Sdn Bhd, Jaks Solar Nibong Tebal Sdn Bhd, PKNP KPower Suria Sdn Bhd, Ragawang Power Sdn Bhd, Ran- hill Solar I Sdn Bhd, TNB Bukit Selambau Solar Dua Sdn Bhd and Uzma Kuala Muda Sdn Bhd. TNB said each of the companies will design, construct, own, operate and maintain solar photovoltaic energy generating facility with the approved capacity at its proposed location.


Nestcon seals RM34m MMC unit project 

NESTCON Bhd via its wholly-owned subsidiary, Nestcon Infra Sdn Bhd, has secured a RM33.7 million contract from MMC Engineering Services Sdn Bhd, a wholly-owned subsidiary of MMC Engineering Group Bhd, which in turn is a wholly-owned subsidiary of MMC Corp Bhd, for a restoration project of the riverbank of Sungai Kelantan in Kelantan. Under the contract, Nestcon will undertake the restoration works comprising the supplying of all services, labour, plant and material for the construction, completion, testing and commissioning (if applicable) of the works. The project will commence immediately and is slated for completion in the second quarter of 2022.


Econpile to undertake RM223m venture 

ECONPILE Holdings Bhd’s wholly-owned subsidiary, Econpile (M) Sdn Bhd, had accepted a RM22.7 million worth of contract from Tunku Abdul Rahman University College to undertake the earthwork, piling, infrastructure and related works for a seven-storey activity and recreation centre in Kuala Lumpur. In a filing to Bursa Malaysia yesterday, the company said the overall duration of the project is 10 months and works are expected to commence in September 2021. The project is expected to contribute positively to the revenue and earnings of the company from the financial year ending June 30, 2022, onwards.