PETALING JAYA: Pestech International Bhd has entered into a heads of agreement with Dhaya Maju Infrastructure (Asia) Sdn Bhd (DMIA) for the proposed subscription by DMIA of at least a 51% stake in Pestech at 15.5 sen per share.

The corporate exercise comes on the heels of the collapse of IJM Corp Bhd’s proposed acquisition deal in Pestech, which would have seen IJM become the largest shareholder in the financially distressed company.