KUALA LUMPUR (December 27): Pestech International Bhd won the tender from Malaysia Airports Holdings Bhd (MAHB) for the development of an automated passenger transport (APM) airtrain project and associated works Kuala Lumpur International Airport for RM 742.95 million.
In a filing, Pestech said its wholly owned subsidiary accepted the award letter from Malaysia Airports (Sepang) Sdn Bhd for the works, regarding the design, supply, installation, testing and commissioning. of the APM and associated work.
According to Pestech, the contract falls under option 2, which includes financing, as well as operation and maintenance of the facility from March 14, 2025 to February 11, 2034.
The development of the project will take three years, starting March 14, 2022, he said.
“The project includes the replacement of new APM vehicles, power supply, communication and signaling systems, APM station equipment, maintenance facilities and equipment, among others.
“The rehabilitation works of the existing 1.2 km APM infrastructure will be implemented while the APM service between the main terminal and satellite terminal A must be maintained with minimal disruption during all phases of the project. “said Pestech.
The APM will offer improvements in interior appearance, power consumption, diagnostics and other areas, he added.
“The project will bring into service an improved public transport infrastructure for KLIA visitors with a safer, more comfortable and more reliable APM, providing a more efficient and reliable experience for all travelers.
“The project will provide a progressive boost to the group’s effort to put resources into electric mobility. Pestech will also promote the relevant technological know-how of the full-fledged APM system and apply this knowledge to cultivate local talent in the sustainable electric mobility industry, ”he added.
The main activities of Pestech, little known, are the distribution of electricity and smart grids; high voltage and extra high voltage electrical system; railway electrification and signaling; power generation, transmission lines and electric cables; and the management of infrastructure assets.
Executive Chairman Lim Ah Hock owns a 33.47% stake in Pestech, while his nephew Paul Lim Pay Chuan, the company’s chief executive and group CEO, has a 19.76% stake.
Pestech’s share price gained two sen to close at 79.5 sen on Monday, December 27, giving it a market cap of RM 754.65 million. The company’s stock price was down since last month, from 1.011 RM on November 9 to a low of 74 sen on December 13.
The edge The weekly reported in July 2021 that Pestech, in partnership with Canadian firm Bombardier, would be the frontrunner for the contract, with an offer of RM750million.
Some of the other shortlisted bidders for the APM contract would be MMC Corp Bhd, in partnership with Japanese firm Mitsubishi Heavy Industries; Malaysian Resources Corp Bhd (MRCB), in partnership with Leitner-Poma of America Inc; the private company Hartasuma Sdn Bhd, in partnership with the Austrian company Doppelmayr Seilbahnen GmbH; and the local company SMH Rail Sdn Bhd, with the lowest offer at RM600 million, The edge reported.
All eyes are on MAHB’s aerotrain tender