Willowglen bags RM27.82mil contract

PETALING JAYA: Willowglen MSC Bhd has been awarded a contract valued at RM27.82mil from Kadenko Co Ltd, Singapore, for the provision of supervisory control and data acquisition and condition monitoring system, monitoring and control network.

In a filing with Bursa Malaysia, Willowglen, which is engaged in the research, development and supply of computer-based control systems, said the commencement date of the contract is on Aug 7, 2024 and will be completed by May 30, 2028.

“The contract is expected to contribute positively to the group’s earnings and net assets per share for the financial years ending Dec 31, 2024 to 2028.

“The contract is not renewable and the risks in respect of the contract are the normal business risks.

For the first quarter ended March 31, 2024, Willowglen reported a net loss of RM51,000, compared with a net profit of RM1.21mil.

Revenue was higher at RM49.28mil, compared with RM45.07mil previously.