Pestech’s Subsidiary Disposes of Transmission System Project in Cambodia

• Sommana Yan
• 24 October 2022
• Uncategorized
• 2419 Views

Pestech International Bhd’s subsidiary is disposing of a transmission system project in Cambodia for US$118 million, reported the Edge Market.

Pestech said its 60% indirect-owned subsidiary Diamond Power Ltd (DPL) has signed an agreement with Cambodian Transmission II Co Ltd (CTL II), a wholly-owned subsidiary of Leader Transmission Ltd, to dispose of the 230kV Kampong Cham-Kratie transmission system.

DPL is a special-purpose vehicle that owns and operates the project.

“DPL wishes to novate, assign and release itself from the business activities in relation to the project, and CTL II has expressed its willingness to assume the business activities,” said Pestech in a filing with Bursa Malaysia.

 

• Energy and Environment