Quick take: Powerwell rises 4.3% on news of contract win


KUALA LUMPUR: Shares in Powerwell Holdings Bhd rose in early trade Tuesday after securing a RM8.79mil contract in Bangladesh.

At 9.08am, the electrical switchgears manufacturer rose 4.35%, or one sen to 24 sen, its highest in almost a month. It has fallen some 11% so far this year.

Powerwell’s unit Powerwell International Sdn Bhd has received a US$2.135mil (RM8.79mil) contract from Intraco Solar Power Ltd.

The contract will see Powerwell being engaged to supply low voltage switchboards and medium voltage switchgear panels for Intraco’s 30MW solar power plant project in Bangladesh.

The delivery of the supply contract is expected to be completed by the end of this year.

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