KUALA LUMPUR: Powerwell Holdings Bhd's subsidiary, Powerwell International Sdn Bhd has secured a contract worth RM13.26 million to supply low voltage switchboards for Indonesia data centre projects.
In a filing with Bursa Malaysia Securities, the group said it had received a letter of award (LOA) from PT. Duta Listrik Graha Prima on Sept 26.
It said the LOA is expected to be fulfilled by May 2025.
"The LOA is expected to contribute positively to Powerwell's consolidated earnings and net assets for the financial year ending March 31, 2025 onwards."The group does not foresee any exceptional risks other than the normal operational risks associated with the LOA and we will take the necessary steps to mitigate the risks," it said. Powerwell is of the opinion that the contract is in the best interest of the group.
At lunch break, Powerwell's shares was down 1.23 per cent or half a sen to 40 sen, valuing the group at RM229.39 million.