HeiTech Padu proposes private placement to raise RM22.98mil for working capital


KUALA LUMPUR: Heitech Padu Bhd has proposed a private placement of 10.12 million new ordinary shares, raising gross proceeds of RM22.98 million, which will be utilised for working capital.

The issuance of new ordinary shares is representing 10 per cent of the total number of issued shares of the company and the placement shares will be placed to third-party investors to be identified later.

"These proceeds shall mainly be utilised for staff salaries, employers’ statutory contributions, payment to suppliers and creditor, office administrative expenses, utilities expenses and overhead expenses,” it said in a filing with Bursa Malaysia today.

In an earlier Bursa Malaysia filing, HeiTech Padu said it had bagged a contract from the Road Transport Department (JPJ) worth RM190.01 million on April 15.

The tender is for the maintenance and technical support services for the information and communications technology infrastructure and MySikap system in all JPJ offices.

The contract is for a period of 36 months commencing from May 1, 2024 to April 30, 2027. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Of politics, trade and friendshoring
Bank Islam's net profit rises to RM129.17mil in 1Q on higher net income
Alliance Bank bags two awards for best SME Bank in Malaysia
Stocks slide, dollar holds firm as Fed focus intensifies; crypto soars
Ringgit surges to breach RM2.99 level against yen
Manufacturing industry capacity utilisation reaches 80.8% in 1Q - DoSM
PETRONAS Dagangan projects growth in retail and commercial segments
Hartalega records RM12.72mil net profit in FY24 on favourable forex
Affin Bank's net profit drops to RM110.21mil in 1Q on narrower net interest margin
Investing gets riskier

Others Also Read