KUALA LUMPUR: Willowglen MSC Bhd’s shares rose in early trade Monday after securing a RM41.55mil in Singapore.

       The counter added 3.53%, or 1.5 sen to 44 sen. Year-to-date, the counter has risen 1.85%.

       WIllowglen has secured a three-year contract worth about RM41.55mil from Singapore's Public Utilities Board for the Security System and Facility Enhancement at various PUB Waterworks and Desalination Plants.

       The contract will span from July 26, 2021 to July 25, 2024.

       “The contract is expected to contribute positively to the group’s earnings and net assets per share for the financial years ending Dec 31, 2021 to 2024,” it said.

       Willowglen said the contract was not renewable and the risks in respect of the contract are the normal business risks.

       Last month, Willowglen’s wholly-owned subsidiary, Willowglen Services Pte. Ltd. has been awarded a contract valued equivalent to approximately RM10.99mil by SP PowerAssets Limited, Singapore for the comprehensive maintenance of east-west cable tunnel scada system, including system enhancements.

       The commencement date of the contract is on June 22, 2021 and will be completed by June 21, 2026.