Hot Stock Pestech rises after securing RM318m contract
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Hot Stock Pestech rises after securing RM318m contract
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[size=28]Pestech rises after securing RM318m contract
By Tan Siew Mung / theedgemarkets.com | April 1, 2016 : 2:51 PM MYTKUALA LUMPUR (April 1): Pestech International Bhd rose seven sen or 1% after the company said it secured a RM318 million contract involving the Klang Valley Double Track upgrading.
The project includes upgrading and maintenance of the Klang Valley Double Track's electrification system, according to Pestech International.
At 2:35pm, Pestech International shares were trading at RM6.79 to emerge as Bursa Malaysia's eighth-largest gainer. The stock saw 61,900 shares transacted.
The counter pared gains after reaching its highest so far today at RM6.90.
Yesterday, Pestech International announced that its wholly-owned subsidiary Pestech Sdn Bhd received the letter of award from Dhaya Maju Infrastructure (Asia) Sdn Bhd on March 17 this year.
The project, which starts today, is scheduled for completion on Sept 30, 2019, according to Pestech International.
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