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KUALA LUMPUR (Jan 16): MN Holdings Bhd (KL:MNHLDG) said it has secured four contracts worth a combined RM122.7 million to supply and install substation equipment for data centre projects in central and southern Peninsular Malaysia.
The contracts, it said, were awarded to its wholly‑owned subsidiary, MN Utilities Engineering Sdn Bhd, by a US-based customer whose identity was not disclosed due to confidentiality obligations under a non‑disclosure agreement.
MN Holdings, however, noted in its bourse filing that the customer is an industry‑leading consultant in the planning, design and construction of information technology facilities.
Under said contracts, MN Utilities will undertake the supply, installation and commissioning of power transformers, along with related equipment and systems across multiple data centre facilities.
The projects are scheduled to begin this month with completion targeted for June 2027.
Managing director Datuk Clement Toh said the contracts highlight sustained demand for reliable, high‑capacity power infrastructure to support Malaysia’s growing data centre industry.
"The awards further strengthen our order book and reinforce MN Holdings’ position in the data centre segment, where power reliability and execution capability are critical.
"With our experience in substation engineering and power systems, we are well-positioned to support the growing requirements of data centre operators across Malaysia. We remain focused on disciplined execution while delivering quality and timely outcomes for our clients,” Toh added.
Following the latest wins, MN Holdings’ order book has expanded to RM918.1 million, providing earnings visibility over the project period.
Shares in MN Holdings closed up five sen, or 2.9%, at RM1.78 on Friday, giving the group a market capitalisation of RM1.17 billion. Over the past year, the stock has surged 79.7%.
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