Quick take: Heitech shares rise on new contract

KUALA LUMPUR: Shares of Heitech Padu Bhd rose in active trading on Tuesday, after the company secured a RM33.9mil contract from the Immigration Department.

The integrated technology services provider added 3.85%, or six sen to RM1.62 with 1.2 million shares traded.

Heitech Padu has secured a RM33.9mil contract to provide maintenance services for the Malaysian Immigration System (myIMMs).

The company said the contract is for a period of 36 months commencing from Feb 18, 2021 to Feb 17, 2024.

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

“Nevertheless, the contract will have no material effect on the dividend policy, share capital and substantial shareholdings of the company for the financial year ending Dec 31, 2021,” it added.

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