Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 23): HeiTech Padu Bhd has been awarded by the Ministry of Home Affairs a contract worth RM38.35 million for the maintenance of the Malaysian Immigration Department’s systems.

According to its filing with the exchange, the RM38.35 million contract commenced on Sept 16, 2015, for a period of three years up to Sept 15, 2018, with any extension or renewal at the discretion of the government.

The contract entails maintenance works for the equipment and software computer system of the Immigration Department.

“The proposed transaction will not have any material effect on HeiTech group’s net asset for the financial year ending Dec 31, 2015 (FY15), and is expected to contribute positively to the future earnings of HeiTech group,” it said.

The company said the transaction will not have any material effect on its dividend policy, gearing, share capital and the shareholdings of substantial shareholders for FY15.

HeiTech rose 4 sen or 6.7% to 64 sen, bringing its market capitalisation to RM60.7 million.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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