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NEW UPDATES Asean Affairs   1  March  2016  

Pestech plans to list subsidiary on CSX

Malaysian power infrastructure provider Pestech International has announced plans to list one of its indirect wholly owned Cambodian subsidiaries on the local stock exchange.

The company said in a filing to the Bursa Malaysia late last week that it is planning an initial public offering (IPO) for Pestech (Cambodia) Ltd (PCL), which constructs electrical substations and transmission lines, on the Cambodian Securities Exchange (CSX).

The listing will “facilitate the better segregation of business responsibilities”, allowing the company and its subsidiary to “better focus on growing their businesses in their respective operating regions”, it said.

“The proposed listing will also enable PCL to gain access to the Cambodian capital market for fund raising to pursue future growth opportunities,” it added.

Pestech, which could not be reached over the weekend, said further details on the IPO would be revealed following an application to the Cambodian securities regulator, tentatively targeted by the second quarter of 2016.

PCL was incorporated in Cambodia in February 2010 and is one of four subsidiaries that Pestech uses on its turnkey electrical transmission projects in the Kingdom.

Pestech completed its first Cambodian transmission line project in June 2013. The company strengthened its presence in the Kingdom the following year with a contract to design, manufacture and install a 198-kilometre transmission line connecting Phnom Penh and Sihanoukville. Last year, it clinched a $92 million contract to develop a 230-kilovolt transmission line between Kratie and Kampong Cham on a BOT basis.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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