The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 17 December 2019, the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has received a contract dated 16 December 2019 from SP PowerAssets Limited, Singapore for the Comprehensive Maintenance of Remote Terminal Units in Transmission Substations valued equivalent to approximately RM6,174,000.
The commencement date of the contract is on 1 December 2019 and will be completed by 30 November 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 2020 to 2024.
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 18 December 2019.