The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 15 March 2017 the Company’s wholly-owned subsidiary, Willowglen (Malaysia) Sdn. Bhd. has been awarded a contract of RM7,820,452 by Tenaga Nasional Berhad for the Supply, Installation, Testing and Commissioning of Secondary Remote Terminal Unit For Motorised RMU Substation for Distribution Automation Project.
The commencement date of the contract is on 15 March 2017 and will be completed by 14 March 2019. 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 16 March 2017.