KUALA LUMPUR (Oct 6): Willowglen MSC Bhd (KL:WILLOW) has secured a RM17.8 million contract from Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp) to upgrade the public address/passenger information display system (PAPIDS) for the MRT Kajang Line.
The engineering and industrial automation solutions provider said the contract was awarded to its wholly-owned subsidiary Willowglen (Malaysia) Sdn Bhd on Oct 2.
The contract commenced on Oct 2 and is scheduled to be completed by Oct 1, 2028, Willowglen said in a Bursa Malaysia filing on Tuesday.
MRT Corp had in May called for bids to upgrade the Kajang Line's PAPIDS, which experienced several disruptions this year.
In March and July, Rapid KL advised commuters on the Kajang Line to listen to platform announcements for train arrival information while the PAPIDS was repaired, although train services continued as usual.
This is Willowglen's third contract win in just over a week, following two contracts secured through its Singapore subsidiary Willowglen Services Pte Ltd.
On Sept 28, Willowglen announced a RM108 million contract for the supply, installation, testing and commissioning of systems for an undisclosed customer, with the contract running for eight years and 11 months.
Two days later, the group announced another RM24.9 million worth of contracts from SP PowerAssets Ltd for the maintenance of supervisory control and data acquisition systems in cable tunnels in Singapore, with work scheduled to run until September 2031.
Both Willowglen Services and Willowglen (Malaysia) are subject to Willowglen's proposed RM215.2 million disposal of its core businesses to Singapore-based Elixir II Pte Ltd, which was announced in April.
Under the proposed transaction, Willowglen will sell its entire stake in Willowglen Services for RM175.2 million, comprising RM72 million in cash and RM103.2 million worth of new Elixir II shares, giving Willowglen a 37.8% stake in Elixir II.
Willowglen will also sell a 25% stake in Willowglen (Malaysia) for RM10 million, with put and call options covering the remaining 75% at an exercise price of RM30 million.
Willowglen expects the overall disposal to generate a RM145.2 million gain and RM112 million in immediate cash proceeds. Shareholders are due to vote on the transaction at an extraordinary general meeting on Oct 19.
Shares in Willowglen closed 0.5 sen higher or 1.64% at 31 sen on Tuesday, valuing the group about RM153.8 million.