Willowglen bags RM12m contract from Ekovest Construction

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KUALA LUMPUR (July 30): Willowglen MSC Bhd has secured a RM12 million contract from Ekovest Construction Sdn Bhd to supply a traffic control and surveillance system.

This marks the group's third contract win for this month. Previously, it clinched a RM16.28 million contract from Sapura Rail System Sdn Bhd and a RM8.5 million contract from Tenaga Nasional Bhd.

In a filing with Bursa Malaysia, Willowglen said the contract from Ekovest Construction was scheduled to commence on July 1 and would be completed by March 31 next year.

The group expects the contract to contribute positively to its earnings and net asset for this year and next year.

Willowglen's share price closed one sen or 2.06% lower at 47.5 sen today, for a market capitalisation of RM230.75 million. The stock has rebounded 48% from its recent low of 32 sen in March.