{
  "id": 12768990,
  "title": "UUE's RM515mil orderbook seen set to grow from TNB, data centre boosts",
  "url": "https://urgent.news/2026/10/08/uues-rm515mil-orderbook-seen-set-to-grow-from-tnb-data-centre-boosts",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-08T02:18:55.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1550242/uues-rm515mil-orderbook-seen-set-grow-tnb-data-centre-boosts"
  },
  "original_language": "en",
  "account": "UUE Holdings Bhd's RM700 million tenderbook could see expansion due to pending project calls from Tenaga Nasional Bhd (TNB), data centers (DCs), and solar projects, according to Hong Leong Investment Bank Bhd (HLIB). HLIB highlighted the potential growth in underground utility works, especially for higher-value substation packages, as major contractors increasingly focus on these areas. The tenderbook currently stands at RM700 million, with an orderbook of RM515 million, equivalent to 2.4 times its FY26 revenue. Discussions with M&E contractors and TNB indicate more projects may emerge in 2027 and 2028, further boosting the tenderbook. With a conversion rate of 20-30%, the expanding pipeline should support growth in the orderbook. TNB's 1+1 bulk orders and upcoming transmission projects are expected to provide a solid earnings base, while new data center capacity and solar projects present additional opportunities. HLIB has raised its FY27-FY29 project win assumptions to RM200 million annually and upgraded UUE's earnings forecasts by 3%, 7%, and 4% respectively. The bank maintains a Buy rating on UUE with a target price of RM1, up from 85 sen.",
  "summary": "KUALA LUMPUR: UUE Holdings Bhd’s record RM700 million tenderbook could expand further as project call-ups from Tenaga Nasional Bhd (TNB), data centres (DCs) and solar projects gather pace.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}