The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 23 October 2017, the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has been awarded a contract valued equivalent to approximately RM5,157,000 by Samsung C&T Corporation for the Lump Sum Subcontract for BIMS & Marshalling Panel Design.
The commencement date of the contract is on 6 October 2017 and will be completed by 31 March 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 25 October 2017.