1. INTRODUCTION

The Board of Directors of the Company is pleased to announce that its wholly-owned subsidiary, Kejuruteraan Powerwell Sdn Bhd, had on 15 June 2026 received a duly executed supply contract dated 11 June 2026 from a leading international contractor for the supply and delivery of low voltage switchboards in connection with a data centre project in Johor. The total contract value, inclusive of sales tax, amounts to RM158,817,136.44 ("Supply Contract"). 

The Supply Contract is expected to be fulfilled by the financial year ending 31 March 2027.

2. FINANCIAL EFFECTS

The Supply Contract is expected to contribute positively to Powerwell's consolidated earnings and net assets for the financial year ending 31 March 2027.

3. RISK FACTORS

The Company does not foresee any exceptional risks other than the normal operational risks associated with the Supply Contract and the Company will take the necessary steps to mitigate the risks.

4. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

None of the Directors and/or major shareholders and/or persons connected with them has any interest, direct or indirect, in the Supply Contract.  

5. STATEMENT BY DIRECTORS

The Board of Directors of Powerwell, having considered all aspects of the Supply Contract, is of the opinion that the Supply Contract is in the best interests of the Company.

This announcement is dated 15 June 2026.