HeiTech Padu contract with IRB renewed

The contract is worth RM35.2mil and will be for a period of three years commencing from Feb 1 2021 to Jan 31 2024.

KUALA LUMPUR: Heitech Padu Bhd has signed a letter of agreement for the renewal of CA GEN (TSO) and Report Composer System License Mainframe for the Inland Revenue Board.

The contract is worth RM35.2mil and will be for a period of three years commencing from Feb 1 2021 to Jan 31 2024.

The contract is expected to have positive effects on future earnings and earnings per share of HeiTech.

HeiTech said the risks related to the contract are normal risks encountered by companies undertaking a similar endeavour and the company has taken the necessary steps to protect itself and to mitigate the risks as and when they occur.