KUALA LUMPUR, Dec 14 — Pestech International Bhd’s wholly owned subsidiary company Pestech Sdn Bhd (PSB), through a joint venture with Sky High Construction Sdn Bhd, had accepted the notification of award (NOA) from Syarikat Sesco Bhd for a substation project.
The contract involved a transmission substation design and build project in Entinggan, Kuching worth RM109.98 million.
PSB will be allocated 60 per cent of the contract value while its joint venture partner Sky High Construction will have the remaining 40 per cent, the company said in a filing with Bursa Malaysia.
The commencement date of the contract shall be December 26, 2023, with the time for completion of the whole works being 23 months from the commencement date.
The contract covers the civil, structural and electrical works and integration into the existing Sarawak networks.
“The development of the Entinggan substation is expected to ensure the reliability of supply and cater for the rapid growth in the organic and industrial load in Kuching.
The contract is expected to contribute positively towards the revenue and earnings of Pestech in accordance with the stages of the progress to be recognised in the financial years ending September 30, 2024 and September 30, 2025, and is expected to contribute positively to the net asset per share of the company,” it said.
It said Pestech does not foresee any exceptional risk other than the normal operational risk associated with the contract. — Bernama
