Quick take: Heitech Padu rises on IRB contract

KUALA LUMPUR: Shares in Heitech Padu Bhd rose in early trade Thursday after securing a contract worth RM35.2mil from the Inland Revenue Board (IRB).

The ICT Infrastructure solutions provider rose 4.52%, or seven sen to RM1.62, its highest in three weeks. It is currently trading at a PE ratio of 20.4 times.

HeiTech has secured a fresh three-year contract from the IRB worth RM35.2mil.

The renewed contract was for the supply, delivery and renewal of CA Gen software, Access Gen (TSO) and Composer Report for IRB's mainframe system.

HeiTech Padu said the contract is for a period of three years commencing Feb 1, 2021, to Jan 31, 2024.

However, the contribution will only start in the next financial year ending Dec 31, 2022 (FY22).

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