KUALA LUMPUR (March 29): Pestech International Bhd, an integrated electric power TECHNOLOGY [] company has received the Securities Commission's approval to list on the Main Market of Bursa Malaysia.
In a statement Thursday, Pestech chief executive officer Pul Lim said the company focuses on emerging and developing countries where there was a demand for the development, improvement and build up of electricity transmission and distribution assets.
“Over the years, we have built an important presence in the industry through our credibility and track record,” said Lim.
He said Pestech had won and delivered multi‐million dollar projects involving electrical power transmission and distribution, which covers High Voltage (HV) and Extra High Voltage (EHV) substations, transmission lines and underground cable works.
Currently, the group was one of the few local companies that had the knowledge and capability to design and manufacture its own communication, protection and control products for use in their projects as well as to be sold as finished products, he said.
The company, which was established in 1991, said it started venturing into the foreign markets in 2007 and won its first contract for the supply of products to Brunei.
Since then, Pestech has successfully penetrated Ghana, Papua New Guinea, Cambodia, Sri Lanka and Tanzania, it said.
Foreign revenue contribution has been growing steadily in the last 5 years with approximately 51.4% of its revenue for the financial year ended (FYE) 2010 being contributed by foreign markets, said the company.
Pestech said its current key project was the design, building, testing and commissioning of substations in North Phnom Penh and Kampong Cham in Cambodia, and the 110km, 230kV transmission link between these two areas.
The project was currently ongoing and expected to be completed in 2013, it said.
Pestech said its other key projects include the electrical works and design, manufacture, supply, CONSTRUCTION [], installation and commissioning of two 132kV substations in Papua New Guinea for the Erap‐Hidden Valley Gold Mine Electrification Project and the design, supply, test and commission of a 161kV substation at Ayanfuri in Ghana for Central Ashanti Gold Mine.
The company said that in Malaysia, TENAGA NASIONAL BHD [] (Tenaga) had been its major customer since 2000.
It said Tenaga contributed about 36% to the revenue of the Group in FYE 31 December 2010.
Lim said Pestech was strategically positioned in the industry as utility companies and industrial users rely and engage our services to provide the systems and solutions for them.
“By being strategically located within developing nations and conducting in‐house engineering and development of products and solutions, we are able to be competitively priced,” he said.
He said Bank Islam Malaysia Bhd was the principal adviser for Pestech’s listing.
In a statement Thursday, Pestech chief executive officer Pul Lim said the company focuses on emerging and developing countries where there was a demand for the development, improvement and build up of electricity transmission and distribution assets.
“Over the years, we have built an important presence in the industry through our credibility and track record,” said Lim.
He said Pestech had won and delivered multi‐million dollar projects involving electrical power transmission and distribution, which covers High Voltage (HV) and Extra High Voltage (EHV) substations, transmission lines and underground cable works.
Currently, the group was one of the few local companies that had the knowledge and capability to design and manufacture its own communication, protection and control products for use in their projects as well as to be sold as finished products, he said.
The company, which was established in 1991, said it started venturing into the foreign markets in 2007 and won its first contract for the supply of products to Brunei.
Since then, Pestech has successfully penetrated Ghana, Papua New Guinea, Cambodia, Sri Lanka and Tanzania, it said.
Foreign revenue contribution has been growing steadily in the last 5 years with approximately 51.4% of its revenue for the financial year ended (FYE) 2010 being contributed by foreign markets, said the company.
Pestech said its current key project was the design, building, testing and commissioning of substations in North Phnom Penh and Kampong Cham in Cambodia, and the 110km, 230kV transmission link between these two areas.
The project was currently ongoing and expected to be completed in 2013, it said.
Pestech said its other key projects include the electrical works and design, manufacture, supply, CONSTRUCTION [], installation and commissioning of two 132kV substations in Papua New Guinea for the Erap‐Hidden Valley Gold Mine Electrification Project and the design, supply, test and commission of a 161kV substation at Ayanfuri in Ghana for Central Ashanti Gold Mine.
The company said that in Malaysia, TENAGA NASIONAL BHD [] (Tenaga) had been its major customer since 2000.
It said Tenaga contributed about 36% to the revenue of the Group in FYE 31 December 2010.
Lim said Pestech was strategically positioned in the industry as utility companies and industrial users rely and engage our services to provide the systems and solutions for them.
“By being strategically located within developing nations and conducting in‐house engineering and development of products and solutions, we are able to be competitively priced,” he said.
He said Bank Islam Malaysia Bhd was the principal adviser for Pestech’s listing.
