Long term investment with immense growth potential..Eventually who knows Singapore state investment funds may takeover due to strategic national interest
The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has been awarded the following contracts on 16 August 2021:
1) A contract valued equivalent to approximately RM16,700,000 by China Communications Construction Company Limited (Singapore Branch) for the Design, Supply, Install, Testing and Commissioning of Security System for Proposed Development of Intra Airside Road Connection, Second Parallel Taxiway and Fire Station No. 2 for Changi East at Singapore Changi Airport.
The commencement date of the contract is on 24 August 2021 and will be completed by 17 September 2024. The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending 31 December 2021 to 2024.
2) A term contract valued equivalent to approximately RM7,660,000 by SP PowerAssets Limited, Singapore for the Supply and Delivery of Sub-station Intrusion Detection System (SSIDS) Devices and Removal and Disposal Works.
The commencement date of the contract is on 16 August 2021 and will be completed by 15 August 2026. The contract is expected to contribute positively to the Group’s earnings and net assets per share for the financial years ending 31 December 2021 to 2026.
Revenue for the current quarter increased by 23.98% to RM42.34 million from RM34.15 million recorded in the corresponding quarter of last financial year. Profit before tax increased to RM4.12 million compared to RM3.71 million achieved in the preceding year corresponding quarter.
For the 6 months ended 30 June 2021, the Group’s revenue increased by 25.75% to RM77.91 million from RM61.96 million recorded in the preceding year corresponding period. Profit before tax reduced to RM6.55 million from RM6.77 million recorded in the corresponding period of last financial year. Despite the increase in revenue, profit before tax has reduced mainly due to lower government grants received during the current financial period compared to the corresponding period of 2020.
Revenue contributed by the Malaysia and Singapore operations has increased by 118.13% and 5.78% respectively compared to the preceding year corresponding period. The Malaysia operations contributed 30.83% of the Group’s revenue with the balance coming from Singapore operations. Our associate in Canada has incurred losses during the current Quarter mainly due to its expansion into new markets in Canada.
Seems to be a good counter; financially strong. Bought some today and decent dividend yield. It maybe a boring counter but will definitely survive the tough time including the upcoming rise in interest rate :)
New contract awarded. And Q3 and Q4 tends to be higher in terms of revenue and profits; probably due to the nature of its revenue recognition timeline. Not that boring after all :)
The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 15 December 2021, the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has been awarded a contract valued equivalent to approximately RM9,200,000 by SP PowerAssets Limited, Singapore for the Comprehensive Maintenance of SCADA System.
The Board of Directors of Willowglen MSC Berhad (“the Company”) is pleased to announce that on 22 December 2021, the Company’s wholly-owned subsidiary, Willowglen Services Pte Ltd has been awarded a contract valued equivalent to approximately RM13,500,000 by Public Utilities Board, Singapore for the Maintenance of Existing Supervisory Control and Data Acquisition System.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
klinnsman39
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Posted by klinnsman39 > 2021-07-17 15:48 | Report Abuse
Willowglen wins another Singapore contract for RM41.55m