Earlier today, in a Bursa Malaysia filing, MHB said MMHE secured an award to build an offshore substation (OSS) high-voltage direct current platform comprising topside and jacket from Petrofac International (UAE) LLC.

Under the contract, MHB announced its commitment to contribute to TenneT’s significant two-gigawatt (GW) programme in the Netherlands, supporting the rapid development of large-scale offshore wind infrastructure projects crucial to Europe’s energy transition.

“This marks the group’s second wind farm OSS contract, following the first one secured in November 2023.

“While execution and cost management are crucial for project delivery, we believe MHB will continue to benefit from the growing wind farm segment,” RHB said.

The investment bank said it views this positively, given that the growing wind farm sector will provide earnings opportunities for MHB.

“However, successful project execution is crucial to capitalise on this potential,” it said.

With the new award, RHB said the group’s OSS wind farm contracts now totalled RM2.7 billion and are estimated to increase its order book by 28% to RM6.9 billion.

MHB’s shares on Bursa rose in mid-morning today with the announcement that its subsidiary company had secured an RM1.5 billion contract.

As at 2pm, MHB’s share price was up by 2 sen or 4.17% at 50 sen, giving the group a market capitalisation of RM800 million.