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HeiTech Padu bags RM21.7m contract for PNB's new office at Merdeka 118

KUALA LUMPUR (Dec 21): HeiTech Padu Bhd has bagged a RM21.7 million contract from Permodalan Nasional Bhd (PNB).

The group signed the letter of acceptance last Friday (Dec 17) for the supply, delivery, installation, testing, commissioning, operations and management of network infrastructure for PNB's new office at Merdeka 118.

The contract is for a period of 42 months, said the group in a bourse filing, while the commencement date will be determined by PNB.

"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.

HeiTech's shares settled two sen or 1.57% lower at RM1.25, valuing the company at RM126.53 million. Year-to-date, the counter has fallen 17.76% from RM1.52.

Edited by Lam Jian Wyn

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