Pestech rises 5.3% on news of its new RM28.8m Kedah job

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KUALA LUMPUR (Feb 24): Pestech International Bhd's shares jumped as much as 5.3% today or 24 sen to RM4.76 on news that it has secured a RM28.8 million contract to build a power station in Kulim, Kedah.

At 4.42pm, the counter had eased slightly to RM4.75, up 5.09% or 23 sen, with 555,700 shares traded. It was one of the top gainers on Bursa Malaysia today. 

Pestech (fundamental: 0.9; valuation: 1.5) had announced earlier today that its wholly-owned subsidiary Pestech Sdn Bhd had received a letter of award from N.U.R. Distribution Sdn Bhd (NUR) to construct a power substation in Kulim, Kedah.

The contract, to last 15 months from Feb 23, 2015, is for the engineering, procurement and construction, commissioning and testing work package for the West 123kV substation project in Kedah. 

Pestech said in its announcement that the job was expected to contribute positively to the future earnings of the company.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)