27 December 2021
Pestech International Bhd has won the tender from Malaysia Airports Holdings Bhd (MAHB) for the development of an automated people mover (APM) aerotrain project and associated works in Kuala Lumpur International Airport for RM742.95 million.
In a filing, Pestech said its wholly-owned subsidiary accepted the letter of award from Malaysia Airports (Sepang) Sdn Bhd for the works, in relation to design, supply, installation, testing and commissioning for the APM and associated works.
According to Pestech, the contract is under Option 2, which includes financing, as well as operation and maintenance of the facility from March 14, 2025 until Feb 11, 2034.
Development of the project will take three years, starting from March 14, 2022, it said.
“The project involves the replacement of new APM vehicles, power supply, communication and signalling systems, station APM equipment, maintenance facilities and equipment, amongst others.
“The rehabilitation works of the existing 1.2km of APM infrastructure will be implemented whilst the service of the APM between the Main Terminal Building and Satellite A Terminal is to be maintained under minimal interruption during all phases of the project,” Pestech said.
The APM will offer improvements in interior appearance, energy consumption, diagnostics, and other areas, it added.
“The project will bring to service an enhanced transit infrastructure to the visitors of KLIA with a safer, more comfortable, and improved reliability APM providing a more effective and dependable experience for all travellers.
“The project shall bring progressive momentum to the group’s endeavour towards putting resources into electric mobility. Pestech will also foster the relevant technological knowhow of the full-fledge APM system, and apply such knowledge in cultivating local talent in the sustainable electric mobility industry,” it added.
The little-known Pestech’s core activities are power distribution and smart grid; high-voltage and extra high-voltage electrical system; rail electrification and signalling; power generation, transmission line and power cables; and infrastructure asset management.
Executive chairman Lim Ah Hock holds a 33.47% stake in Pestech, while his nephew Paul Lim Pay Chuan, the company’s managing director and group CEO, owns a 19.76% stake
Pestech’s share price gained two sen to close at 79.5 sen on Monday (Dec 27), giving it a market capitalisation of RM754.65 million. The company’s share price was on decline since last month, falling from RM1.011 on Nov 9 to a low of 74 sen on Dec 13.
The Edge weekly reported in July 2021 that Pestech, in partnership with Canada-based Bombardier, is said to be the front runner for the contract, with its bid at RM750 million.
Some of the other shortlisted bidders for the APM contract are believed to be MMC Corp Bhd, partnering Japan-based Mitsubishi Heavy Industries; Malaysian Resources Corp Bhd (MRCB), in a tie-up with Leitner-Poma of America Inc; privately held Hartasuma Sdn Bhd, in partnership with Austrian company Doppelmayr Seilbahnen GmbH; and local outfit SMH Rail Sdn Bhd, with the lowest bid at RM600 million, The Edge reported.
Source: www.theedgemarkets.com
Site Search
Did you find what you are looking for? Try out the enhanced Google Search: