Willowglen’s shares up 8.84% this morning on RM139.36 million contract win

October 8, 2018 | By | Reply More

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PETALING JAYA:Willowglen MSC Bhd’s shares rose as much as 8.84% to 61.5sen this morning, after bagging the RM139.36 million contract for the Gemas-Johor Baru electrified double track project.

At 11.12am, the stock was trading at 59sen with 3.05million shares done.

The group told Bursa Malaysia on Friday, that its wholly owned subsidiary Willowglen (Malaysia) Sdn Bhd has been awarded the contract by Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd for the design, construction, supply, installation, completion, testing, commissioning and maintenance of the communication systems for the project.

The commencement date of the contract is on October 5, 2018 and will be completed by April 1, 2021.

Willowglen expects the contract to contribute positively to its earnings and net assets per share for the financial years ending December 31, 2018 to 2021.

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