Pantech likely to secure RM1.7bil PIPC jobs

PETALING JAYA: Pantech Group Holdings Bhd stands a good chance to win up to RM1.7bil worth of jobs in relation to the oil and gas (O&G) downstream activities at the Pengerang Integrated Petroleum Complex (PIPC), Alliance Research says.

The brokerage, which initiated coverage on Pantech yesterday with a “buy” call and a target price of RM1.55, said in its report that Pantech, which specialises in the production of steel pipes, valves and fittings (PVF), was expected to emerge as a key beneficiary of the Pengerang downstream boom.