KUALA LUMPUR: Straits Energy Resources Bhd's 70 per cent owned subsidiary has accepted a RM27.74 million job from Tianu Sdn Bhd to install, test and commission aluminium XLPE underground cables and accessories for asset development for Tenaga Nasional Bhd (TNB).
Tianu is the main contractor for the job awarded by TNB. Straits CommNet Solutions Sdn Bhd (SCS) has formed a smart partnership with Tianu to deliver the project.
The contract will run for a year with an option to extend for another year.
In a filing with Bursa Malaysia, Straits Energy Resources Bhd noted that SCS will prepare a performance bond of RM1.49 million within 28 days from the date of LoA.
"This strategic collaboration represents a fusion of Tianu's extensive experience in cable technology and SCS's proficiency in network solutions. "The aim is to revolutionise the installation, testing, and commissioning of underground cables, ensuring optimal performance, reliability, and sustainability in distribution networks," SCS said.
It added that the acceptance of the LoA is in line with the company's strategy to expand its business network, enhance its revenue stream and to pursue strategic collaborations with valued business partners to cultivate a sustainable future.
