Quick take: Willowglen shares up 1.7% amid contract wins

February 10, 2020 editor Willowglen

KUALA LUMPUR: Shares in Willowglen MSC Bhd rose over 1.7% in early trade Monday after securing RM35.22mil from Singapore’s National Water Agency.

The counter advanced 1.79%, or one sen to 57 sen. It is currently trading at a PE of 24.52 times.

Willowglen’s, Willowglen Services Pte Ltd has secured a RM35.22mil contract from the Public Utilities Board of Singapore.

The company said the contract is for the supply, delivery, installation and commissioning of wireless network infrastructure and network cameras in various waterworks and water reclamation plants.

The contract will commence on February 21, 2020 and expected to be completed February 20, 2023.

It said the contract is expected to contribute positively to the group’s earnings and net assets per share for the financial years ending December 31, 2020 to 2022.

Source: TheStar