KUALA LUMPUR (Jan 29): Pestech International Bhd has secured an RM11 million contract from Tenaga Nasional Bhd (TNB) for the supply, erection, testing and commissioning of new primary and secondary equipment in Ayer Tawar, Perak.

The contract also entails relevant protection, control, ancillary equipment and associated civil works.

In a bourse filing on Monday, the electrical power technology group said it received the letter of award on Jan 26 "and the time for completion shall be 540 days from the commencement date to be determined by TNB later".

The contract is expected to contribute positively towards the group's revenue and earnings in accordance with the stages of progress to be recognised, Pestech added.

The group said it will in the near future be focusing on securing engineering, procurement, construction, and commissioning (EPCC) projects in the rail electrification and power grid built-up.

"The strategic emphasis will revolve around leveraging and highlighting Pestech's core competencies in the EPCC segment. Simultaneously, the group is undergoing a concerted effort to explore business opportunities in its market segments," it added.

Pestech shares closed up 0.5 sen to 28.5 sen on Monday, giving the group it a market capitalisation of RM282.78 million.