Pestech bags RM57.9m power contract from Sarawak Energy

Scomi Group Bhd surprised investors when it proposed to revise its current issued share capital reduction from RM224.96mil to RM3mil from the earlier RM40mil.

KUALA LUMPUR: Pestech International Bhd's unit has secured a RM57.95mil contract from  Sarawak Energy Bhd's subsidary to build a substation in Bintulu.

Pestech Sdn Bhd had on Thursday accepted a notification of award from Syarikat Sesco Bhd for the  Sibiyu 132/33kV sub-station project

It said project would be carried out over 28 months with work starting on Sept 3. The location was about a 35-minutes drive from Bintulu Airport.

Once completed, the project was expected to provide 132kV  to the Bintulu city centre.

Pestech expects the project to contribute positively towards its revenue and earnings in the financial year ending June 30, 2019.