Pestech unit secures APM-related contract worth RM175.65mil

KUALA LUMPUR: Pestech International Bhd’s wholly-owned subsidiary company, Pestech Technology Sdn Bhd (PTech), has accepted a letter of award from Malaysia Airports (Sepang) Sdn Bhd for the Automated People Mover (APM) project and associated works at KL International Airport (KLIA), worth RM175.65 million.

The contract entails works for the design, supply, installation, testing, and commissioning, and was awarded to Alstom Transport Systems (Malaysia) Sdn Bhd, and an unincorporated joint venture (JV) formed between IJM Construction Sdn Bhd (IJMC) and PTech (IJMC-Pestech JV).

"Alstom and IJMC-Pestech JV shall separately and independently carry out their respective scope of works,” Pestech said in a filing with Bursa Malaysia today.

It also said the participating interest of IJMC-Pestech JV in the portion of the works for the project would be 60 per cent IJMC and 40 per cent PTech, respectively.

The project commenced on Jan 15, 2024, and is scheduled to be completed on March 31, 2025 or earlier.

"The project will contribute positively towards Pestech’s revenue and earnings in accordance to the agreed milestone events to be recognised in the financial years ending Sept 30, 2024 and Sept 30, 2025,” it added. - Bernama

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