HeiTech Padu bags RM892mil NIIse contract

PETALING JAYA: Heitech Padu Bhd has secured a contract worth RM892.20mil for the Malaysian Immigration Department’s National Integrated Immigration System (NIIse).

In a filing with Bursa Malaysia, HeiTech Padu said the nature of the contract is to study, propose, design, develop, supply, deliver, install, test, integrate, migrate and synchronise data commissioning, as well as implement change management and training for the NIISe.

The company said the contract is for a period of 60 months commencing from Oct 18, 2024 to Oct 17, 2029.

“Barring any unforeseen circumstances, the contract is expected to contribute positively to the earnings and net assets per share of the company for the financial year ending Dec 31, 2024 and onwards until the completion of the contract.”

HeiTech Padu said the risks from the contract are normal risks encountered by companies undertaking a similar endeavour, adding that it has taken the necessary steps to protect itself and to mitigate the risks as and when they occur.

“Geopolitical risks are likely to impact the global economic outlook, affecting growth, inflation, financial markets, and supply chains. Global conflict may exacerbate regional instability, driving up energy and food prices and contributing to rising inflation.

“Furthermore, the US-China relationship may alter sourcing patterns and tariff costs, influencing earnings.”

HeiTech Padu shares were suspended on Friday, pending a material announcement from the company related to a material contract.