Willowglen bags RM35m contract from Singapore national water agency

KUALA LUMPUR (Feb 7): Willowglen MSC Bhd said its unit has been awarded a contract worth approximately RM35.22 million by the Public Utilities Board of Singapore.

In a filing to Bursa Malaysia today, Willowglen said the contract, awarded to its wholly-owned Willowglen Services Pte Ltd, is for the supply, delivery, installation, and commissioning of wireless network infrastructure and network cameras in various waterworks and water reclamation plants.

The contract will start on Feb 21 and be completed three years later on Feb 20, 2023.

Willowglen expects the contract to contribute positively to its earnings and net assets per share for the financial years ending Dec 31, 2020 to 2022.

Willowglen shares closed unchanged at 56 sen apiece today, for a market capitalisation of RM272.49 million. In the past 12 months, the stock has gained close to 22%.