Notably, we have known the battle for Niise has begun for a longest time. End of last year the hype resume with HTPADU leading the pack and THETA lagging behind. Months later news spurred three shortlisted names; THETA, HTPADU and DNEX. To mark, THETA and HTPADU has rose more than 100% since then.

I want to deliberate on THETA which I think fits the prerequisite to get the contract. 

In the past, the project was given to AWANTEC then IRIS and both failed. Both later sued the government. THETA is owned by Lembaga Tabung Haji with 27.28% stake. Whatever happened TH will not sue the government.

The Edge earlier reported that Dnex pricing is way above the guide price, hence is not competitive. Therefore, the direction is quite clear if government is on austerity drive. Although THETA balance sheet is small, TH has large funds to support THETA and this is a very important consideration.

Technically THETA has been doing ICT, system integration for more than 30 years. So Niise is not a rocket science just another integration work of proven systems put together.

Theta in FY2022 and FY2023 has turned around with registered PAT. The IJN case was a legacy issue prior to the new management team that came in on 3Q 2021. So THETA has new team than are better and proven by the past 2 years rising profitability.

Moving forward, besides their groundbreaking work with Niise, THETA is gearing up to launch a thrilling project that will be announced very soon. This extraordinary venture is set to transform the market in unprecedented ways, pushing the boundaries and revolutionizing the industry.

We believe that the new THETA with the support of TH should be back on track to secure larger projects.

So, my bet is on THETA for short and immediate term. Go go THETA

Regards,

Lily of the valley