Pestech gets SC approval for Main Market listing

  • Business
  • Friday, 30 Mar 2012

PETALING JAYA: Pestech International Bhd, an integrated electric power technology company, has received the Securities Commission approval to list on the Main Market of Bursa Malaysia.

Pestech has in its resume multi-million dollar electrical power transmission and distribution projects, covering high voltage and extra high voltage substations, transmission lines and underground cable works.

Tenaga Nasional Bhd is a major customer since 2000, contributing about 36% to the group’s revenue in 2010. The group also has foreign businesses since 2007, which contributed 51.4% to total revenue in the same financial year.

Among the countries it has penetrated are Ghana, Papua New Guinea, Cambodia, Sri Lanka, Brunei and Tanzania.

“The group focuses on emerging and developing countries where there is demand for the development, improvement and build-up of electricity transmission and distribution assets,” chief executive Paul Lim said in a statement.

He said the group was strategically located in developing nations, and offered in-house engineering and development of products and solutions, enabling it to be competitively priced.

Pestech has an ongoing project in designing, building, testing and commissioning of substations in north Phnom Penh and Kampong Cham in Cambodia, as well as the 110km 230kV transmission link between both areas.

The project is expected to be completed next year.

“Other key projects include the electrical works and design, manufacture, supply, construction, installation and commissioning of two 132kV substations in Papua New Guinea for the Erap-Hidden Valley Gold Mine Electrification Project and the design, supply, test and commission of a 161kV substation at Ayanfuri in Ghana for Central Ashanti Gold Mine,” the Pestech statement said.

Bank Islam is the principal adviser for Pestech’s listing.

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