Pestech bags RM134m job

PETALING JAYA: Pestech International Bhd's wholly-owned subsidiary Pestech Sdn Bhd (PSB) has received the letter of acceptance from Tenaga Nasional Bhd (TNB) for its bid for a RM134.4 million project involving the construction of the 500/275kV Yong Peng East (2x1050 MVA) backbone main intake substation in Johor.
In a filing with the stock exchange, Pestech said the project is effective on the date of the letter of acceptance (Sept 23, 2015) and is to be completed within 1,085 days.
"The project will enable the national grid 500kV backbone connectivity from Yong Peng East, Johor to Lenggeng in Negeri Sembilan and further access to Ayer Tawar in Perak. When ready, the project will form the transmission line infrastructure for the Peninsular power grid system," Pestech said.
The project will have no material effect on the revenue and earnings of Pestech for the financial year ending June 30, 2016 but is expected to contribute positively to the future earnings and net asset per share of the company.
"Pestech does not foresee any exceptional risk other than the normal operational risk associated with the project. The company will take necessary steps to mitigate the risks as and when it occurs," it added.