|Description||New Contract Awarded|
The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 13 February 2018, the Company’s wholly-owned subsidiary, Willowglen Services Pte. Ltd. has been awarded a contract valued equivalent to approximately RM9,262,000.00 by Surbana Technologies Pte. Ltd. for the Maintenance Contract Services for Lift Monitoring Devices.
The commencement date of the contract is on 1 January 2018 and will be completed by 31 December 2021. The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending 31 December 2018 to 2021.
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 14 February 2018.