Friday 29 Mar 2024
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Heitech Padu Bhd (+ve)

HEITECH (Fundamental: 0.35/3, Valuation: 0.9/3) first triggered our momentum alert on March 27. The stock has since risen by 20.8% to close at 72.5 sen yesterday.

For 1Q2015, revenue grew 12.5% y-o-y to RM103.3 million, due to higher revenue from network services, data centre services and sales of software license. The company also turned around from a net loss of RM5.1 million in 1Q2014 to a net profit of RM4.3 million in 1Q2015.

Last week, Heitech declared an interim dividend of 2 sen per share for 2015, which will go “ex” tomorrow. 

HeiTech provides systems integration, network related services, data centre management and IT-related services. Its clients include the Road Transport Department and Sri Lanka’s Department of Immigration & Emigration.

On June 8, Heitech accepted a Letter of Award for the procurement of maintenance services and spare parts for the Army’s artillery hunting radar (ARTHUR) weapon locating systems (WLS). The three-year contract is worth RM6.89 million.

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This article first appeared in The Edge Financial Daily, on June 25, 2015.

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