Heitech Padu bags RM14.4m contract from IRB

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KUALA LUMPUR (Jan 31): Heitech Padu Bhd has bagged an RM14.4 million contract from the Inland Revenue Board (IRB) to renew the software licence for the board’s mainframe systems.

In a filing with Bursa Malaysia, Heitech said the contract is for a duration of two years, starting tomorrow.

It said the contract is expected to have a positive effect on the future earnings of HeiTech.

“Nevertheless, the contract will have no material effect to the dividend policy, share capital and substantial shareholdings of the company for the financial year ending Dec 31, 2019," it added.

Shares of Heitech Padu fell four sen or 4.85% to 79 sen today, giving it a market capitalisation of RM79.46 million.