Willowglen bags RM6.11m contract to maintain cable oil pressure monitoring system

KUALA LUMPUR (Sept 14): Willowglen MSC Bhd's unit has been awarded a contract worth RM6.11 million by Singapore’s SP PowerAssets Ltd for the comprehensive maintenance of a cable oil pressure monitoring system, as well as the system's migration.

In a stock exchange filing today, Willowglen said the contract was awarded today to its wholly-owned Willowglen Services Pte Ltd. The job will start today and be completed by Sept 13, 2025.

“The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending Dec 31, 2020 to 2025," it said.

Willowglen shares settled one sen or 2.38% higher at 43 sen today, giving the group a market capitalisation of RM208.85 million, after some 418,500 shares exchanged hands.