The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 30 August 2022, the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has been awarded a contract valued equivalent to approximately RM17,950,000 by SP PowerAssets Limited, Singapore for the Comprehensive Maintenance of Frontend Security Equipments and Its Backend Services.
The commencement date of the contract is on 19 September 2022 and will be completed by 18 September 2025.
The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending 31 December 2023 to 2025.
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 30 August 2022.