The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 29 December 2020, the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has been awarded a contract valued equivalent to approximately RM20,200,000 by Public Utilities Board, Singapore for the Replacement and Enhancement of Supervisory Control and Data Acquisition System and Ancillary Works at Tuas South Desalination Plant.
The commencement date of the contract is on 4 January 2021 and will be completed by 3 January 2024.
The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending 31 December 2021 to 2023.
The contract is not renewable and the risks in respect of the contract are the normal business risks.
None of the directors and / or major shareholders of the Company or persons connected to them has any interest, direct or indirect in the new contract awarded.
This announcement is dated 30 December 2020.