Powerwell secures orders worth RM7.25mil

KUALA LUMPUR: Powerwell Holdings Bhd has secured two purchase order worth US$1.62mil (RM7.25mil) from Siemens Industrial Ltd in Bangladesh to supply low voltage switchboards for N.R. Group, a garment and yarn producer company.

In a filing with Bursa Malaysia, Powerwell said its wholly-owned subsidiary, Powerwell International Sdn Bhd secured the order from Siemens Industrial.

The purchase orders are expected to be fulfilled by August 2023.

“The purchase orders are expected to contribute positively to Powerwell’s consolidated earnings and net assets for the next financial year ending March 31, 2024,” Powerwell said.