KUALA LUMPUR (June 21): Ann Joo Resources Bhd (KL:ANNJOO) and its consortium partner have bagged a contract worth RM297.90 million from Tenaga Nasional Bhd (KL:TENAGA) for the electrification of East Coast Rail Link (ECRL) feeder stations.

In a bourse filing on Friday, Ann Joo said its unit Ann Joo Metal Sdn Bhd, in consortium with PT Lumintu Insan Mandiri, had been awarded the contract by Tenaga Switchgear Sdn Bhd, a unit of TNB.

Ann Joo said the letters of award dated June 14 are subject to special conditions, which shall be fulfilled within stipulated deadlines.

The group said the consortium was given one week to provide full acceptance and had on June 20 executed the letters of confirmation of acceptance.

It said the feeder stations involved are: (a) FS03-Sg Tong, Terengganu, (b)FS04-Merchang, Terengganu, (c)FS05-Kemasek, Terengganu, (d)FS07-Gambang, Pahang, and (e)FS08-Maran, Pahang.

Ann Joo said the ECRL electrification project is expected to be completed by May 31, 2026.

The company said the project is expected to contribute positively to its earnings for the financial years ending Dec 31, 2024 and Dec 31, 2025.

At midday break, Ann Joo was up 1.64% or two sen to RM1.24, with 483,700 shares traded.