KUALA LUMPUR (March 14): Powerwell Holdings Bhd has secured a supply contract worth RM40 million for a semiconductor production and testing plant in Kulim Hi-Tech Park.

In a statement to the bourse on Monday (March 14), the company said it was awarded the project by Tialoc Malaysia Sdn Bhd.

The electrical power distribution equipment manufacturer and solution provider said the contract, which will commence by end-March 2022, is targeted to be completed by October 2022.

Powerwell regional sales director Aaron Leong said this contract is expected to contribute positively to Powerwell’s earnings for the financial year ending March 31, 2023.

Leong said that with the progression of the Malaysian economy, the construction and infrastructure industry will be more vibrant.

“As the country transits into the endemic phase and with borders re-opening in April 2022, we will actively look into more tender opportunities, both locally and regionally by leveraging on our proven track record,” he said.

At midday break Monday, Powerwell fell 0.5 sen to 20.5 sen with 80,000 shares traded.