Pestech in corporate exercise

PETALING JAYA: Pestech International Bhd has proposed to undertake a restricted issue of 1.33 billion new shares to Dhaya Maju Infrastructure (Asia) Sdn Bhd at an issue price of 12 sen a share, raising RM160mil in the process.

In a filing with Bursa Malaysia, Pestech noted Dhaya Maju is jointly owned by Datuk Seri Dr Subramaniam Pillai with a 37.5% stake, Datuk Mohamed Razeek Md Hussain Maricar (21%), Siti Saffur Mansor (17.5%), Nazreen Ahmad (15%) and Datuk Shaharuddin Md Som (9%).