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.

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