Pestech unit gets subcontract for EDTP project


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.

PETALING JAYA: Pestech International Bhd’s unit Pestech Technology Sdn Bhd and Ansaldo STS Malaysia Sdn Bhd have been appointed as the subcontractor of the electrified double track project (EDTP) from Gemas to Johor Baru.

The subcontract costing RM339mil is for the turnkey engineering, procurement, construction and maintenance contract relating to the signalling systems for the EDTP and had been awarded by Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd.

The filings with Bursa Malaysia said the contract included optional items worth RM19.77mil.

“The optional items, if exercised, will be allocated between the consortium parties within the period of the works. Pursuant to the consortium, the total sub-contract price for Pestech’s portion of works is RM75mil. This has further built up local participation for the signalling portion of the rail electrification,” it said. The date for completion of the project is on Apr 1, 2021, it said.

It is expected to contribute positively towards the revenue and earnings of Pestech in accordance to the stages of project progress to be recognised in the financial years ending June 30, 2019 to June 30, 2020.

It does not foresee any exceptional risk except the normal operational risk associated with the project.

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Business , Pestech , EDTP , double tracking , Gemas , Johor Bahru

   

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