KUALA LUMPUR: Heitech Padu Bhd has secured a contract worth RM190.01 million from the Road Transport Department (JPJ).
Heitech Padu, in a filing with Bursa Malaysia today, said the contract is for the maintenance and technical support for ICT Infrastructure including the vehicle and driver information system (MySIKAP) at the data centre and JPJ offices.
It is for 36 months starting from May 1, 2024 to April 30, 2027.
"The contract is in the best interest of the company and is expected to contribute positively to the earnings and net assets per share of the company for the financial year ending Dec 31, 2024 and onwards until the completion of the contract," it noted.
In March, Heitech Padu secured a RM13.1 million contract extension to provide maintenance services for Malaysian Immigration System, MyIMMs, for the Immigration Department.
Heitech Padu added that the risks associated with the contract are normal risks encountered by companies undertaking a similar endeavour.
The company said it had taken the necessary steps to protect itself and to mitigate the risks as and when they occur.
In recent months, the company had seen the entry fo a number of new sustantial shareholders, namely MY E.G. Services Bhd and Farhash Wafa Salvador Rizal Mubarak.
A business weekly reported in March, that Heitech Padu had been shortlisted for the National Integrated Immigration System (NIISe) project under the Ministry of Home Affairs.
Heitech Padu's share price closed at RM2.43 a share, giving it a market capitalisation of RM246 million.
In another statement, Heitech Padu said it had entered into a teaming agreement with MyEG to form an interim collaboration to explore services in relation to the information technology industry in Malaysia.
Both parties will collaborate in marketing activities, sharing of related know-how and system integration of information and technology solution for identified projects to potential customers.
The agreement is valid for a year from the date it was signed unless and until superseded by a subsequent agreement entered into by both parties, whichever earlier.
Heitech Padu said either of the parties may withdraw from the agreement any time by giving thirty days written notice.
Meanwhile, MyEG said the company did not see any exceptional risk from the agreement other than the nor al operational/business risks associated with it.
As at March 11 this year, MyEG services had a 15.889 per cent interest in Heitech Padu.