HeiTech Padu Bhd (+ve)
SHARES in HeiTech Padu Bhd (fundamental: 0.55/3, valuation: 1.5/3) triggered our momentum algorithm yesterday as the counter closed five sen or 5.81% higher at 91 sen.
Last month, the systems integration provider signed an RM41.9 million contract with Permodalan Nasional Bhd (PNB) to provide managed wide area network infrastructure for PNB and Amanah Saham Nasional Bhd.
The supply, installation, commissioning, operation and maintenance contract is for a period of five years until Aug 31, 2021, according to the group. The deal is expected to have a positive effect on its earnings per share but will have no material effect on its dividend policy, gearing, share capital and the substantial shareholders’ shareholdings.
The stock saw some 1.13 million shares traded compared with its 200-day average of just 61,941 shares. It currently has a market capitalisation of RM94.1 million based on its last traded price.