Pestech gets nod to list unit in Cambodia

In a filing with Bursa Malaysia yesterday, Pectech said it had received a letter of award from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (YTL), under a consortium between SIPP Rail Sdn Bhd and YTL joint venture. It said the contract is related to the electrification system for the electrified double track from Gemas to Johor Baru.

KUALA LUMPUR: Pestech International Bhd has received Cambodia's approval to list its unit Pestech (Cambodia) PLC on the Main Board of Cambodia Securities Exchange.

Pestech, which is involved in power transmission infrastructure, said on Tuesday it had received the approval-in-principle for the proposed listing from the Securities and Exchange Commission of Cambodia (SECC).

The SECC said Pestech Cambodia would have to appoint an independent director, establish an audit committee, a risk management committee and an internal audit unit.

The company would also have to furnish to the SECC the underwriting agreement prior to obtaining the final approval from the SECC on the proposed listing.