Farhash Wafa ceases to be a substantial shareholder in HeiTech Padu

KUALA LUMPUR: Datuk Farhash Wafa Salvador Rizal Mubarak has ceased to be a substantial shareholder in HeiTech Padu Bhd a little over a month after the deal that made him one.

A filing with Bursa Malaysia Securities Bhd by HeiTech Padu said Farhash ceased to be a substantial shareholder following a change in shareholding structure of Mfivesouthsea Sdn Bhd, the holding company of Rosetta Partners Sdn Bhd.

Rosetta Partners became a substantial shareholder in HeiTech Padu after it bought a 15.9 per cent interest in the company on Mar 12, 2024 via a direct business transaction.

A business weekly quoting sources reported in March, that HeiTech Padu had been shortlisted for the National Integrated Immigration System (NIISe) project under the Ministry of Home Affairs.

Since then, it has seen the entry of a couple of new shareholders, namely MY E.G. Services Bhd and Farhash via his interest in Rosetta Partners.

HeiTech Padu has been in the news recently following criticism over the award of a RM190 million the vehicle and driver information system (MySikap) contract from the Road Transport Department to the company.

The contract is for the maintenance and technical support for ICT Infrastructure including MySikap at the data centre and JPJ offices.

MInister of Transport Anthony Loke issued a statement to explain the award process, stating that an open tender was carried out for the job and that HeiTech Padu was awarded the contract as its bid was reasonably priced.

"The acknowledgement (for HeiTech Padu) was submitted to the Finance Ministry on Dec 4, 2023, for final approval.

"The treasury approval was obtained on Feb 8, 2024, for the amount of RM185 million, excluding service tax," he said in the statement.

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