Thursday 28 Mar 2024
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KUALA LUMPUR (April 25): Willowglen MSC Bhd has secured a RM62.9 million contract from the Public Utilities Board of Singapore via its wholly-owned unit, Willowglen Services Pte Ltd.

Part A of the contract — valued at approximately RM59.7 million — is for construction works under the replacement of supervisory control and data acquisition (SCADA), control and auxiliary systems at Johor River Waterworks, Willowglen said in a stock exchange filing today.

Part B of the contract is valued at approximately RM3.2 million and involves maintenance services for the same project, it added.

Works on Part A will start on May 2, 2019, to be completed by May 1, 2022; Part B's tenure is for two years and will begin after Part A completes.

"The contract is expected to contribute positively to the group's earnings and net assets per share for the financial years from Dec 31, 2019 to Dec 31, 2024," Willowglen said.

Willowglen shares closed 3 sen or 6.32% higher at 50.5 sen, giving the group a market capitalisation of RM245.73 million.

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