KUALA LUMPUR (July 6): Technology services provider Heitech Padu Bhd announced that it has secured two contract extensions from the Road Transport Department (JPJ) amounting to an additional contract value of RM54.33 million.

In a Bursa Malaysia filing on Thursday (July 6), the group shared that both contracts have been extended for 12 months, commencing May 1, 2023 until April 30, 2024.

The first contract is for the maintenance and technical support services for the Mainframe system software, with an additional value of RM27.04 million.

Meanwhile, the second contract is for the information and communications technology (ICT) infrastructure and mySIKAP system maintenance and technical support, and is worth RM27.29 million.

Heitech Padu said any further renewal or extension of either contract is at the discretion of the government.

Both contract extensions are expected to contribute positively to the earnings and net assets of the group for the financial year ending Dec 31, 2023 (FY2023), as well as FY2024.

Last year, the group had already received contract extensions for both projects that amounted to RM23.72 million.

Heitech Padu shares closed unchanged at 62 sen with a market capitalisation of RM62.8 million.

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Heitech Padu secures contract extensions from JPJ