L&T-HSL consortium bags RM91m Kuching substation job

L&T-HSL consortium bags RM91m Kuching substation job

KUALA LUMPUR (Dec 28): Sarawak-based infrastructure firm Hock Seng Lee Bhd (HSL) in a consortium with India’s Larsen & Toubro Ltd (L&T) and its associate Larsen & Toubro (East Asia) Sdn Bhd has bagged a RM90.99 million contract from Sarawak Energy Bhd for a substation project in Kuching, Sarawak.

HSL has a 45% stake in the consortium.

In a filing with Bursa Malaysia yesterday, HSL said the scope of works for the group includes earth works, piling, civil infrastructure works, building and its related mechanical and electrical works of the Matang 275/132/33/kV substation project.

The contract period for the completion and commissioning of the project is 32 months, commencing Jan 7, 2019.

“The contract is expected to contribute positively to the group’s earnings and net assets as the project progresses during the contract period,” said HSL.

“However, the transaction will not have any effect on the share capital and substantial shareholdings of HSL,” it added.

This article first appeared in The Edge Financial Daily, on Dec 28, 2018.

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