PETALING JAYA: Cable and wire manufacturer Southern Cable Group Bhd saw its orders in hand grow to RM609.3 million from RM578.4 million as at Dec 31, 2022, after receiving a contract addendum from Tenaga Nasional Bhd (TNB).
With the addendum, the group’s amended contract with TNB to supply underground cables and conductors increased to RM332.1 million, from RM293.8 million originally.
Southern Cable managing director Tung Eng Hai said, “We adopt a positive outlook for 2023, as projects across various industries such as power, construction, and infrastructure have recorded a strong return in activity levels. Additionally, the recently retabled Budget 2023, with its focus on high impact projects, will contribute to further growth in demand for cables and wires. The contract addendum by TNB bolsters our orders in hand for the year and attests to the improving market conditions.
“Furthermore, we are pursuing more business as tender flows for new projects have resumed in strength, thus supporting a positive outlook going forward.”
The group’s current orders in hand will be fulfilled until 2024, comprising power cables and wires, and related products and services such as aluminium rods, as well as supply and installation of rectifier systems for 5G network.
Southern Cable is a registered supplier of cables and wires with TNB and there has been a strong business relationship between them for the past 19 years.