KUALA LUMPUR (Sept 15): Pestec International Bhd (KL:PESTEC) said on Tuesday that it was unaware of a winding-up petition filed against the group by its China-based supplier Shandong Power Equipment Co Ltd (SPECO) until it was informed by Bursa Malaysia Securities.

Bursa Securities, in its email to the electrical power technology group on Sept 8, also forwarded a copy of the winding-up notice advertised by SPECO in two Malaysian newspapers, said Pestec in a bourse filing.

Pestech maintained that it has so far not been served with the winding-up petition. But it has learnt that the petition relates to an alleged sum owed by the group under an undated corporate guarantee.

Pestech noted that it is disputing the validity of the guarantee through an ongoing civil suit at the Kuala Lumpur High Court, adding that it has obtained an injunction against SPECO from the court on Sept 7, restraining the Chinese firm from enforcing any rights under the guarantee.

"The company reiterates and maintains its position that SPECO's claim, including the alleged indebtedness and the validity and enforceability of the purported corporate guarantee, is strongly disputed," the group said.

Pestec International shares closed flat at 5.5 sen on Tuesday, giving the group a market capitalisation of RM140.7 million.