Pestec International Bhd has announced that its wholly owned subsidiary, Pestech Sdn Bhd (PSB), has been served with a winding-up petition over an alleged debt of US$2.39 million (approximately RM9.69 million).
The petition was filed by Pestech Engineering Technology (China) Co Ltd (PETC), a separate entity that is not affiliated with Pestec, despite the similarity in names, the company clarified in a filing to Bursa Malaysia. PSB, which specialises in high-voltage electrical systems, is now facing legal proceedings as a result of the petition.
Pestec said it has sought legal advice and is taking all necessary measures to address the matter. The company also stressed that it does not anticipate any significant financial or operational impact from the petition.
The court has set the first case management for April 6, 2026, marking the start of the legal process.
Pestec’s shares last closed at 11 sen, giving the company a market capitalisation of RM268.52 million. The stock has declined roughly 40% over the past year, reflecting market pressures and investor caution amid the legal development.
The company reassured shareholders that it remains committed to monitoring the situation closely and will provide updates as the case progresses.
