The Board of Directors of Powerwell Holdings Berhad ("Powerwell" or the "Company") is pleased to announce that the Company's wholly-owned subsidiary, Kejuruteraan Powerwell Sdn. Bhd. has on today accepted two (2) letters of intent from Sunway Group. The Group has secured multiple contracts with a combined value of RM21.7 million since September 2020 with an outstanding order book of over RM80 million. 

Please refer to the attachment for further details.

This announcement is dated 15 October 2020.