We are adding 3,000 PESTECH share @ RM4.24 per share to our Growth Portfolio. Although PESTCH has rallied 39% YTD, we still believe it is not too late to own this stock, which is the only listed energy infrastructure company on Bursa Malaysia. In fact, we have recently upgraded our target price for PESTECH to RM4.93/share as investors may be willing to pay for a higher valuation given its earnings visibility and contract flow momentum coupled with relatively low share liquidity. We see PESTCH as an alternative play for the power sector both locally and internationally. It is also an investment proxy to the growing economy of emerging and developing countries, such as Indochina. In addition, our 3-year earnings CAGR of 57% is not overly optimistic given its current order book of RM700m with tender book of RM1.33b.