MyEG buys 14.4pc stake in HeiTech Padu for RM31mil

KUALA LUMPUR: MY E.G Services Bhd's  unit, MY E.G. Capital Sdn Bhd has bought a 14.4 per cent interest in Main-market listed HeiTech Padu Bhd for RM31.2 million on Mar 7, 2024.

A business weekly, quoting sources, recently reported that HeiTech is believed to be on a shortlist for the National Integrated Immigration System (NIISe) project.

The NIISe project is up for grabs after the Home Affairs Ministry terminated a RM1.12 billion award to Iris Corp Bhd's unit Iris Information Technology Systems Sdn Bhd, to develop the new immigration system.

In a filing wih Bursa Malaysia Securities Bhd today, MyEG said its purchase of the stake is a strategic investment to explore potential collaborations with HeiTech to create synergies by leveraging on the respective expertise and experience of both parties as established e-Government service providers.

MYEG Capital purchased about 5.5 million shares via the open market at an average acquisition price of RM2.134 per HeiTech share, and about 9.4 milion shares via direct business transaction at an average acquisition price of RM2.15 a share.

HeiTech is is an information and communications technology company that offers a range of services including system integration, application development, managed infrastructure services and innovative solutions across the sectors as well as the development of Malaysian Electronic Government initiative.

MyEG's share price was down half a sen to 77 sen as at 9.05am.

HeiTech's share price was up 21 sen to RM2.66 a share.

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