Jati Tinggi secures RM20m underground cable job

KUALA LUMPUR (July 3): Construction outfit Jati Tinggi Group Bhd (KL:JTGROUP) said it has secured a RM20.05 million contract to undertake the installation of 33kV underground cables in the southern region of Peninsular Malaysia. 

The two-year contract, awarded by Worktime Engineering Sdn Bhd, is set to commence on July 25, said Jati Tinggi in a bourse filing on Wednesday.

Jati Tinggi had on March 6 secured a similar contract, worth RM22.06 million, from Worktime Engineering to lay underground cables for data centres in the same region.

Shares in the company have surged by over 119.64% year to date, and reached a record high of 73.5 sen on June 12, tracking the gains from its recent achievement of securing a RM25.55 million contract from Tenaga Nasional Bhd (KL:TENAGA).

Jati Tinggi closed one sen or 1.65% higher at 61.5 sen on Wednesday, giving it a market capitasation of RM240.96 million.

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