KUALA LUMPUR (Aug 23): Pestech International Bhd's wholly-owned subsidiary Pestech Sdn Bhd has bagged a RM57.95 million contract from Sarawak Energy Bhd's unit Syarikat Sesco Bhd for the Sibiyu 132/33kV substation project.

"The project will contribute positively towards the revenue and earnings of Pestech in accordance to the stages of progress to be recognised in the financial year ending June 30, 2019. It is also expected to contribute positively to the company's future earnings and net asset per share," it said in a bourse filing today.

The project, which is expected to last for 28 months from Sept 3, 2018, is about 35 minutes from Bintulu Airport in the Kemena Land District in Sarawak.

Once completed, the project is expected to provide the essential 132kV power injection into the city center of Bintulu to cater for the anticipated load demand and strengthen its power supply reliability.

At 12.30pm, Pestech inched up one sen or 0.64% to RM1.58 with 46,500 shares done for a market capitalisation of RM1.21 billion.