|Description||New Contract Awarded|
The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 12 January 2017, the Company’s wholly-owned subsidiary, Willowglen Services Pte. Ltd. has been awarded a contract valued equivalent to approximately RM7,658,000 by Sanli M&E Engineering Pte. Ltd. for the Design, Programming, Supply, Delivery, Install and Testing & Commissioning of various Electrical Instrumentation Control (EIC) Panels, Programmable Logic Controller (PLC) and Supervisory Control and Data Acquisition (SCADA) System.
The commencement date of the contract is on 11 January 2017 and will be completed by 21 December 2018. The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending 31 December 2017 to 2018.
The contract is not renewable and the risk in respect of the contract is 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 13 January 2017.