SPECIALTY pole maker Mestron Holdings Bhd has scored another milestone after its latest contract lifted the group’s order book value of its Renewable Energy (RE) segment by over six-folds.
This comes about after wholly owned subsidiary Mestron Engineering Sdn Bhd (MESB) secured a letter of award (LOA) to undertake the procurement of equipment and materials for a large scale solar (LSS) project valued at RM59.99 mil.
The LOA was received from Fabulous Sunview Sdn Bhd (FSSB), a wholly-owned subsidiary of Sunview Group Bhd. The commencement of the awarded project is subject to the issuance of notice to proceed by FSSB.
With this new contract, the Mestron’s RE order book value stands at RM71 mil. The group continues to focus on expanding its RE business segment as it is still actively engaged in tendering for new projects to expand its order book further to ensure a sustainable cash flow and revenue going forward.
The latest contract underscores Mestron’s commitment to expand its business and deliver exceptional value in the RE business through its engineering expertise, according to Mestron’s managing director Por Teong Eng.
“This LOA is a testament to our strong track record in delivering excellence in engineering and construction,” he commented. “We are honoured to be entrusted with such a significant project and we remain committed to creating sustainable, cutting-edge solutions that align with our vision of a greener future.”
Indeed, the group plays a pivotal role in the LSS project as seen by the comprehensive scope of MESB’s responsibilities.
These include procuring essential equipment like photovoltaic (PV) modules, mounting structures, inverters with medium voltage power stations, SCADA (supervisory control and data acquisition) systems, cabling and lightning protection to form a complete system.
Additionally, MESB is responsible for managing logistics, conducting equipment testing, ensuring equipment maintenance and security during the sub-contract works period and executing the installation of the equipment.
At the close of yesterday’s (Ocr 20) trading, Mestron was 1.5 sen or 3.13% higher at 49.5 sen with 18.16 million shares traded, this valuing the company at RM493 mil. – Oct 21, 2023
