PETALING JAYA: ACE-Market listed Powerwell Holdings Bhd has secured a RM11.5 million contract from MMC Gamuda KVMRT (T) Sdn Bhd via e-bidding.
The contract entails the design, manufacture, supply, delivery, supervision on the installation, testing and commissioning of the low voltage main switchboards, sub-switchboards, and distribution boards, at six underground stations and four ancillary buildings for the Mass Rapid Transit Laluan 2 project (MRT2).
The deliveries of the stipulated works shall be conducted in stages and are expected to be completed by the first quarter of 2021.
This brings Powerwell’s outstanding order book to-date to RM71.6 million and this is expected to contribute positively to its financial performance until the year 2021.
Managing director Jason Tham said Powerwell remains resilient despite the outbreak of Covid-19 globally.
“In addition to the MRT2 project, we are pleased to be able to secure a few notable projects in 2020, including the Exchange TRX Retail Mall worth RM15.78 million, as well as a contract for a sewage treatment plant in Ipoh worth RM5.47 million.”
The company has also managed to secure four projects worth a total of RM4.7 million in Indonesia in the second quarter of 2020.
“Based on the encouraging project flow thus far and with the proceeds from our initial public offering, we endeavour to bring our company to the next level by increasing our competitiveness in the industry by growing our brand, market presence and market share,” Tham added.
