Pestech said it had received the Letter of Acceptance from Tenaga Nasional Berhad for the supply, erection, testing and commissioning of new primary and secondary equipment at PMU 275kV Ayer Tawar, Perak including complete with relevant protection, control, ancillary equipment and associated civil works at a contract value of RM11 million.
The contract will come into effect from the date of the LOA and the time for completion to be 540 days from the commencement date to be determined by TNB later. With the latest contract, the group said it will be focusing in securing engineering, procurement, construction, and commissioning projects in the rail electrification and power grid built-up in the near future.
Pestech believes the contract is expected to contribute positively towards the revenue and earnings in accordance with the stages of the progress to be recognised in the financial years ending 30 September 2024 and 30 September 2025, and is expected to contribute positively to the net asset per share of the company.
