The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 1 August 2023, the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has been awarded a contract valued equivalent to approximately RM12,580,000 by SP PowerAssets Limited, Singapore for the Maintenance of 6.6kV Willowglen Remote Terminal Units.

The commencement date of the contract is on 1 September 2023 and will be completed by 31 March 2029.

The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending 31 December 2023 to 2029.

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

None of the directors and/or major shareholders of the Company or persons connected to them has any interest, direct or indirect in the new contract awarded.

This announcement is dated 1 August 2023.