| Wasco Berhad has announced that its indirect wholly-owned subsidiary, WS Engineering & Fabrication Pte. Ltd. a company incorporated in Singapore and has been awarded a contract by Schneider Electric France valued at RM161.8 million. The contract is for Wasco to supply pre-fabricated buildings for a project in Africa. The scope of work of the Contract involves engineering, procurement and construction of pre-fabricated buildings. The work and services of the Contract are expected to be completed within 17 months. The work and services to be performed under the Contract are within the business scope of the Engineering Division of the WB Group and the risks are the normal operational risks associated with the said business. The group said the contract is expected to contribute positively to the earnings of WB Group over the contract period. The Contract is project-specific and is not renewable. The Wasco Board is of the opinion that the Contract secured is in the ordinary course of business and is in the best interest of the Company. |
