Willowglen jumps 5.61% on Singapore contracts

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KUALA LUMPUR (Apr 14): Willowglen MSC Bhd's shares jumped as much as 5.61% after it bagged two contracts worth a collective RM9 million from Singapore's Public Utilities Board.

As at 10.38am, the counter was traded at 92.5 sen, gained 3.5 sen or 3.93% before having rose to a high of 94 sen.

Some 1.64 million shares were seen having been traded. It has a market capitalisation of RM216.61 million.

Willowglen (fundamental: 3; valuation: 0.9) announced yesterday that its wholly-owned subsidiary Willowglen Services Pte Ltd had been awarded two contracts worth a collective RM9 million from Singapore's Public Utilities Board.

The contracts were for the supply, installation and commissioning of pressure and water quality sensors (RM3.65 million) and the maintenance of the said sensors (RM5.35 million).

It said the contracts are expected to contribute positively to its earnings and net assets per share for the financial years ending Dec 31, 2015 (FY15) until FY20.

(Notes: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)