Heitech Padu wins RM43.8 mil network contract from PNB, ASNB

KUALA LUMPUR (July 6): Heitech Padu Bhd has bagged a contract worth RM43.8 million to install wide area networks infrastructure services for Permodalan Nasional Bhd (PNB) and Amanah Saham Nasional Bhd (ASNB).

In a bourse filing on Wednesday (July 6), the company said it has received the letter of award from PNB and ASNB for the contract which is over a period of five years.

The contract is expected to be positive for the company’s future earnings and earnings per share.

“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, 2022,” said the company.

Heitech Padu closed 5.5 sen or 6.25% lower at 82.5 sen, giving the IT service management company a market capitalisation of RM83.51 million.