KUALA LUMPUR: Sarawak Cable Bhd has bagged two power transmission lines construction contracts worthRM618.6 billion from Sarawak Energy Bhd on Aug 30.
Its whollyowned subsidiary, Trenergy Infrastructure Sdn Bhd’s tied up with China’s Sinohydro to form the SinohydroTrenergy joint venture (JV) was awarded the Mapai to Lachau 500Kv transmission line project in Sarawak worth RM352.8 million.
The JV company was also awarded the Lachau to Tondong 500Kv transmission line network for a sum of RM265.8 million.
Work on both projects will begin on Oct 1 and is expected to be completed within 26 months.
Last Friday, Sarawak Energy awarded contracts worth RM1.2 billion to local and foreign contractors for the500kV transmission backbone project.
Once the transmission lines are completed it will help boost power supply in the eastern state.
According to filings at the exchange last June, Sarawak Cable bagged the RM32.9 million bid to construct the 132kV TudanMiri Airport transmission line, which is expected to be completed by September 2014.
In a filing to Bursa on Aug 29 the group said it incurred loss of RM436,000 in the secondquarter (2Q) ended June 30, 2013, compared with net profit of RM1.2 million in the equivalent period last year.
The group’s revenue for the same period under review also decreased to RM47.7 million as against RM64.6 million a year ago.
The drop in earnings was due to administrative and other operating expenses that rose by 68% and 174% respectively compared with the corresponding quarter of 2012.
It was largely due to inclusion of expenses of a subsidiary acquired in the 3Q of 2012, said the power cable company.
– This content is provided by FMT content provider The Malaysian Reserve