If you follow my earlier article on “The race for Niise, who gets the cake,” you would come across my few last sentences;

“THETA is gearing up to launch a thrilling project that will be announced very soon”

Today Theta has announced their winning contract for IoT worth RM673.8million. This contract will have positive impact on company’s earnings for FY Dec 31, 2024. 

I need to congratulate Theta for this concession contract. WELL DONE THETA!

Next, we are patiently waiting for the good news on Niise, another groundbreaking billion-ringgit project. The fundamental getting stronger for Theta. 

Besides the teaser announcement on concession contract today, another significant announcement is the appointment of the new Non-Independent and Non-executive Chairman.

Tan Sri Abd Rahman Mamat, who also sits on the boards of MBSB Bhd, Lotte Chemical Titan Holding Berhad, MCE Holdings Bhd and ECA Integrated Solution Bhd was appointed as the new chairman replacing Tengku Datuk Seri Hasmuddin Tengku Othman. Tan Sri Abd Rahman has held various position in the civil service and has served in various capacities in the ministry for 35 years namely;

- Deputy Trade Commissioner, Malaysian Trade Office, New York,

- Economic Counsellor, Trade Commissioner and Deputy Permanent Representative to the United Nations Economic and Social Commission,

- Director, Export Promotion Bureau, MATRADE

- Secretary General of MITI

Tan Sri Abd Rahman Mamat too was very instrumental in guiding Dnex from Rm200 million market capitalization in 2013 to more than RM3 billion in mid 2022. Tan Sri later resigned from Dnex in December 2022. 

With Theta welcoming Tan Sri Rahman as chairman, I have confidence that he will guide Theta to a billion ringgit company.

All the best THETA

Ps: Ex boss UKAS Datuk Dayang Sadiah binti Abang Bohan also appointed, looks like this dark horse is looking for more big project..

Warm regards,

Lily of the Valley