Quick take: Willowglen shares up on TNB contract

KUALA LUMPUR: Shares in Willowglen MSC Bhd rose over 7% in early trade Friday after securing a RM8.5mil contract from Tenaga Nasional Bhd.

The counter advanced 7.29%, or 3.5 sen to 51.5 sen. It is currently trading at a PE ratio of 15.87 times.

Willowglen has been awarded a contract worth RM8.5mil from Tenaga for the supply, installation and testing of field terminal units for its distribution automation project.

It said the contract commencement date was on July 22,2020 and the project would be completed by Jan 20,2024.

“The contract is expected to contribute positively to its earnings and net assets per share for the financial years ending Dec 31,2020 to 2023, ” it said

It added that that the contract was not renewable and the risks in respect of the contract were the normal business risks.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Willowglen , Tenaga


Next In Business News

US trade deficit jumps to record high in June on strong import growth
AirAsia nets RM240mil from Fly Leasing-Carlyle Aviation merger
Pavilion REIT doubles net profit in Q2 to RM20.4mil
Indonesia exits recession with 7% GDP growth in Q2, but virus clouds recovery
Comfort Gloves facilities in Taiping placed under EMCO�
MR DIY posts robust Q2 results despite Covid-19 curbs�
FBM KLCI closes in positive territory
China stocks fall as Beijing's crackdown fears hit sentiment
Nintendo profit falls as Switch sales fade
AmInvest takes top spots at annual fund management awards

Stories You'll Enjoy