PESTECH (5219) - Pestech surges to all time high on Cambodian power job
KUALA LUMPUR: Pestech International Bhd’s share price surged to an all-time high of RM5.57 at the midday break on Thursday on news of its venture into the Cambodian power sector.
At midday, it was up 21 sen to RM5.57. There were 8.32 million shares done at prices ranging from 5.42 to RM5.57.
Year-to-date, it is up nearly 60% and it is trading at a price-to-earnings of 32.63% and a forward price-to-earnings of 20.63 times.
The FBM KLCI was down 3.66 points or 0.2% to 1,846.65. Turnover was 896.48 million shares valued at RM651.14mil. There were 328 gainers, 314 losers and 359 counters unchanged.
The power system engineering and technical solutions provider emerged as a concession owner in Cambodia after it secured a RM1.59bil project.
It had signed an agreement with Cambodia’s Mines and Energy Ministry and state-owned Electricite Du Cambodge (EDC) to transfer the ownership of the 230kV Kampong Cham – Kratie Transmission System project to its 60%-owned Diamond Power Ltd.
The build-operate-transfer project to bring electricity from the upcoming Hydro Power Lower Se San 2 hydropower plant in Stung Treng to Kratie is for a 25-year period.
“Diamond has now procured all the necessary legal documentations, which signify the full and effective ownership of the project,” it said. It expected the project to be completed on Nov 30, 2017.
During the first three years of commercial operation starting end-2017, EDC will pay Diamond US$12.25 mil (RM44.37mil) per year.
From 2020 onwards, Diamond will be paid US$18.22mil (RM66mil) annually until the end of the concession.
“This marks the entry of the Pestech group as an independent power transmitter on a concession basis,” it said.
Pestech expected the project development to cost US$92.21mil (RM334mil).
http://www.thestar.com.my
KUALA LUMPUR: Pestech International Bhd’s share price surged to an all-time high of RM5.57 at the midday break on Thursday on news of its venture into the Cambodian power sector.
At midday, it was up 21 sen to RM5.57. There were 8.32 million shares done at prices ranging from 5.42 to RM5.57.
Year-to-date, it is up nearly 60% and it is trading at a price-to-earnings of 32.63% and a forward price-to-earnings of 20.63 times.
The FBM KLCI was down 3.66 points or 0.2% to 1,846.65. Turnover was 896.48 million shares valued at RM651.14mil. There were 328 gainers, 314 losers and 359 counters unchanged.
The power system engineering and technical solutions provider emerged as a concession owner in Cambodia after it secured a RM1.59bil project.
It had signed an agreement with Cambodia’s Mines and Energy Ministry and state-owned Electricite Du Cambodge (EDC) to transfer the ownership of the 230kV Kampong Cham – Kratie Transmission System project to its 60%-owned Diamond Power Ltd.
The build-operate-transfer project to bring electricity from the upcoming Hydro Power Lower Se San 2 hydropower plant in Stung Treng to Kratie is for a 25-year period.
“Diamond has now procured all the necessary legal documentations, which signify the full and effective ownership of the project,” it said. It expected the project to be completed on Nov 30, 2017.
During the first three years of commercial operation starting end-2017, EDC will pay Diamond US$12.25 mil (RM44.37mil) per year.
From 2020 onwards, Diamond will be paid US$18.22mil (RM66mil) annually until the end of the concession.
“This marks the entry of the Pestech group as an independent power transmitter on a concession basis,” it said.
Pestech expected the project development to cost US$92.21mil (RM334mil).
http://www.thestar.com.my
