BINASAT Communications Bhd has secured a RM58.26 million contract to install a 132kV XLPE cable system for Tenaga Nasional Bhd (TNB).
The contract involves underground cables from PMU Titiwangsa to PMU Genting Kelang and PMU Genting Kelang to PMU Kampung Lanjut.
Binasat’s subsidiary, Borderless Connection Sdn Bhd, accepted the letter of acceptance from TNB.
The contract spans 910 days, and Binasat expects it to positively impact the group’s performance.
Binasat’s shares ended the day at 25.5 sen, maintaining the group’s market capitalization at RM99 million. — TMR
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