KUALA LUMPUR, OCT 19 — Electricity distribution product manufacturer Powerwell Holdings Bhd has responded to a letter of query issued by Bursa Malaysia Bhd pertaining to the company’s statement over contracts worth RM21.7 million since September, with an outstanding book of over RM80 million.
In a filing with Bursa Malaysia today, Powerwell said the contracts secured included works for the LRT 3 project worth RM6.7 million, that of Sunway Group (RM3 million), CWM Group Sdn Bhd (RM560,000), and Trans Resources Corporation Sdn Bhd (RM3.14 million).
It said the contracted works for the LRT 3 project are targeted to commence by the first quarter of 2021 and completed by the second quarter of 2021.
“The group will be mainly responsible for the design, supply and installation of low voltage switchboards for the elevated LRT 3 stations specified in the respective contracts,” it said.
Meanwhile, Powerwell’s wholly-owned subsidiary, Kejuruteraan Powerwell Sdn Bhd, has secured two contracts worth RM9.1 million from Sunway Group.
Powerwell’s outstanding order book stands at RM80 million and this is expected to contribute positively to its financial performance until 2021. — Bernama
