HeiTech Padu explores partnership with Regal Orion

KUALA LUMPUR: Heitech Padu Bhd has entered a memorandum of understanding with Regal Orion Sdn Bhd to explore business synergies and to enhance data-centre-related business activities in Malaysia.

Regal Orion is involved in engineering, construction and project management specifically in the data centre development sector, it said in a filing with Bursa Malaysia.

"With this MOU, the Parties shall explore all possible business collaboration to unlock the potential business synergy via its respective competitive advantage and seek to enhance the data centre related business activities in Malaysia.

"These include sharing information in related data centre related business technical competencies and exploring future business potential in large customer market segment in Malaysia," it added.

The parties shall enter into a definitive agreement to define their relationship in more detail within 90 days of the MoU.

Trading in shares of HeiTech Padu has been suspended from 2.30pm on Thursday in light of the announcement.

The stock last traded 10 sen or 6.06% higher at RM1.75 a share with 6.08 million units exchanging hands.