BUSINESS

POWERWELL SECURES SECOND CONTRACT FROM TIALOC MALAYSIA WORTH RM94 MLN

14/06/2022 07:37 PM

KUALA LUMPUR, June 14 (Bernama) -- Powerwell Holdings Bhd’s wholly-owned unit, Powerwell International Sdn Bhd, has secured a second contract from Tialoc Malaysia Sdn Bhd this year worth RM94 million.

The electrical switchgear manufacturer said the contract entails supplying, installing, testing and commissioning low voltage (LV) panels for a new building project of a leading multinational corporation in Kulim Hi-Tech Park, Kedah.

“The contract will commence in June 2022 and is targeted to be completed by March 2023.

“With this contract, Powerwell’s outstanding order book stands at RM201 million,” it said in a filing with Bursa Malaysia.

Regional sales and marketing director Ir Aaron Leong said according to ASEAN Centre for Energy, the electricity demand in Southeast Asia will triple from 2022 to 2050, where the company saw the opportunities to expand its business from the demand for company’s solutions for both conventional and renewable energy generation in the region.

“Since the inception of its first overseas project in year 2000, Powerwell has continued to expand its footprint in the international markets, especially in the Southeast Asia region.

“Currently, our products are exported to various countries including Indonesia, Pakistan and Bangladesh,” he said.

Moving forward, he said the company would continue to actively participate in the tenders while leveraging on its strong track record over the past 30 years to strengthen its regional presence.

The supply contract is expected to contribute positively to Powerwell’s consolidated earnings and net assets for the financial year ending March 31, 2023.

-- BERNAMA

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy