Posted on 23 Oct 2025
Steel Hawk Bhd (KL:HAWK) said on Thursday it has secured eight subcontracts worth RM61 million combined for a low-voltage power cable system.
The contracts from the national electric utility firm involves installation, testing, and commissioning of power cables, both underground and overhead, for up to 415 volts as well as the jointing, termination, and accessories, the company said in an exchange filing.
The job will begin on Oct 23 and run until Oct 22, 2026, with the option for one-year extension, Steel Hawk said.
The contracts are the latest for the company diversifying into the utilities sector at a time when the oil and gas industry shows signs of entering a downcycle.
Shares of Steel Hawk, which mainly provides maintenance services for the oil industry, have lost more than one-third of their value so far this year amid decline in oil prices on worries over global oversupply and weak demand.
There are also broader concerns over capital expenditure by Petronas, the national oil-and-gas company formally known as Petroliam Nasional Bhd embroiled in a legal tussle with Sarawak and the state’s companies.
Source:The Edge
