KUALA LUMPUR (Feb 11): Hock Seng Lee Bhd (HSL) announced today that it had on Friday (Feb 8) received two letters of acceptances from Sarawak Energy Bhd for RM54.3 million worth of power plant projects in Mukah.
HSL told Bursa Malaysia in a filing that the projects are known as “2X312MW Balingian Coal-Fired Power Plant Project, Package C05A — Earth Works and Common Facilities and Package C05C — Operator’s Residence”. HSL said it secured the projects through an open tender exercise.
"The scope of works for HSL includes pilling, earth works, infrastructure works, building works for staff accommodation and related amenities, as well as the associated mechanical and electrical works.
"The contract period is eighteen (18) months and physical construction work is expected to commence in February 2019. The contract is expected to contribute positively to the earnings and net assets of HSL Group, as the project progresses during the contract period. However, the transaction will not have any effect on the share capital and substantial shareholdings of HSL," the filing said.