In a filing with Bursa Malaysia, the integrated electric power technology firm said Pestech-Fuji JV, a non-incorporated consortium formed by its unit Pestech Sdn Bhd and Fuji Electric Asia Pacific, accepted the letter of award in relation to SEB’s New Bintulu B substation project on Friday last week.
The project, to begin on Oct 4, is expected to be completed within 21 months.
Pestech did not say what stakes it and Fuji Electric would hold in the joint venture.
“The project will have no material effect on the revenue and earnings of Pestech for the financial year ending June 30, 2017 but is expected to contribute positively to the future earnings and net asset per share of the company,” Pestech said.
The company said it did not foresee any exceptional risk other than the normal operational risk associated with the project such as availability and changes in the price of raw materials.
“The company will take necessary steps to mitigate the risks as and when it occurs,” it said.
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