A joint venture (JV) involving IJM Construction Sdn Bhd and Pestech Technology Sdn Bhd (IJMC-Pestech JV) and Alstom Transport Systems (Malaysia) Sdn Bhd (Alstom) have been awarded a contract to complete Kuala Lumpur International Airport (KLIA) aerotrain replacement project for Malaysia Airports Holdings Bhd (MAHB).
In a Bursa filing today (Jan 17), Pestech International Bhd (Pestech) said that its subsidiary Pestech Technology Sdn Bhd (PTech), as part of the IJMC-Pestech JV, and Alstom had received the letter of award on 16 January 2024 from MAHB’s subsidiary, Malaysia Airports (Sepang) Sdn Bhd.
Alstom is the new aerotrain’s original equipment manufacturer, while IJMC is a subsidiary of IJM Corporation Berhad.
“(The award is) for the works in relation to design, supply, install, testing and commissioning for the Automated People Mover (APM) (or aetotrain) and all the associated works at KL International Airport.
“Both Alstom and IJMC-Pestech JV shall separately and independently carry out their respective scope of works,” it said.
The project commenced on 15 January 2024 and by the first quarter of 2025 (31 March 2025 or earlier).
Pestech said the contract sum for IJMC-Pestech JV is worth RM175.6 Million, with participating interest in the JV in the portion of the works for the project is 60% for IJMC and 40% for PTech, respectively.
“The project will contribute positively towards the revenue and earnings of Pestech in accordance to the agreed milestone events to be recognised in the financial years ending 30 September 2024 to 30 September 2025.
“Pestech does not foresee any exceptional risk other than the normal operational risk associated with the project such as availability and changes in the price of raw materials.
“The company will take necessary steps to mitigate the risks as and when it occurs,” it added.
