Pestech inks deal to dispose of concession

GEORGE TOWN: Pestech International Bhd is disposing of its power transmission concession in Cambodia for US$118mil (RM558mil) to Cambodian Transmission II Co Ltd, a wholly-owned subsidiary of Malaysia-based Leader Energy Group.

The agreement to transfer the 25-year build-operate-transfer project was signed yesterday between Diamond Power Ltd (DPL), a 60%-owned subsidiary of Pestech, and Cambodian Transmission II Co Ltd (CTL II).