Media Outlet: The Malaysian Reserve
Tuesday, 18 May 2021
CORP BRIEF: Pestech, Pesona Metro and Rex Industry
by TMR / pic by TMR FILE
Pestech clinches contract worth RM64.9m
PESTECH International Bhd’s wholly owned subsidiary, Pestech Technology Sdn Bhd, secured a contract worth RM64.9 million for the design, manufacture, supply, delivery, installation, testing and commissioning, interfacing, warranty and other related works of Traction Power Supply of Rapid Transit System (RTS) Link Assets for RTS link between Malaysia and Singapore from RTS Operations Pte Ltd. In a filing to Bursa Malaysia yesterday, the company noted the project will connect Johor Baru, Malaysia, and Woodlands, Singapore, crossing the Straits of Johor. The link will be a modern light rail transit system that will provide a high volume, fast and efficient transportation system between stations. The project will commence immediately and the completion date of the project shall be on Sept 30, 2026. The project will contribute positively towards the future revenue and earnings of Pestech in accordance with the stage of project progress to be recognised in the financial years ending June 30, 2022 (FY22), to FY27.
Pesona Metro wins RM319m job
PESONA Metro Holdings Bhd’s wholly owned subsidiary, Pesona Metro Sdn Bhd, accepted a letter of award from Bayu Mantap Sdn Bhd for the execution and completion of the main building and mechanical and engineering works for a contract of RM318 million. Bayu Mantap is principally involved as the turnkey contractor and turnkey developer of the project. The project is for a duration of 27 months which commenced yesterday. The award of the project will not have any impact on the paid-up capital of the company. However, it is expected to contribute positively to the earnings and enhance the net assets of the group during the duration of the project.
Rex Industry CFO resigns
REX Industry Bhd CFO Lim Geik Fong resigned to pursue other opportunities, the company noted in a filing to the stock exchange yesterday. Lim is a chartered accountant of the Malaysian Institute of Accountants and a fellow member of the Association of Chartered Certified Accountants, UK. She started her career as an auditor in an audit firm. She then joined Rex Industry in 1999 as an assistant accountant and assumed various positions in the Finance Division with increasing responsibilities.