Quick take: HeiTech Padu jumps 25% on foray into govt e-services

KUALA LUMPUR: Heitech Padu Bhd, which has fallen off the investors' radar screen for years, surged 25% early Friday after Starbiz reported that its 80%-owned unit is making its foray into government e-services space.

HeiTech Padu, one of the top gainers on Bursa Malaysia, jumped 25% or 14 sen to 70 sen with 805,600 shares done. The company is a global IT systems and technology Services provider that specialises in developing ICT systems and infrastructure for government agencies

Starbiz reported that the lucrative government e-services space will see the entry of a new player, MyPay.

The developer of the MyPay portal, Dapat Vista (M) Sdn Bhd, is 80%-owned by HeiTech Padu, which is in turn, majority-owned by Permodalan Nasional Bhd (PNB).

Dapat Vista has been involved in government SMS services for the past 10 years.

Its portal MyPay, which will be launched next month, is set to offer services including payment of summonses, student loans, and local taxes such as assessment and quit rent.

The biggest player in the e-services space for many years has been MyEG Services Bhd, which covers various services including road tax renewal, foreign worker permit renewal, summons checking and zakat payments.

The entry of MyPay means MyEG will soon be facing a new competitor.


Across The Star Online