The electric power system solutions provider told Bursa Malaysia that the job, awarded on March 17 to unit Pestech Sdn Bhd (PSB) by Dhaya Maju Infrastructure (Asia) Sdn Bhd, involved the upgrading of signalling and communication system together with the upgrading and maintenance of the electrification system and power supply system.
The project will span 42 months, from April 1, 2016, to Sept 30, 2019.
Pestech said PSB would give the execution rights of the contract to Pestech Technology Sdn Bhd (PTech), a wholly owned subsidiary of Pestech and a sister company to PSB.
“PTech, being the company in Pestech group specialising in rail electrification business segment, working along its railway signalling technical contractor Ansaldo STS Malaysia Sdn Bhd, has the competent engineering team with the required aptitude to execute the contract,” it said.
Pestech said the project would not have any material effect on its revenue and earnings for this financial year ending June 30, 2016 but was expected to contribute positively to its future earnings and net assets per share.
Pestech shares closed unchanged at RM6.72 on Thursday, with 28,500 shares traded.