"The IIS is an integrated solution for border and immigration control that is being called for tender after the previous RM3.5bil Sistem Kawalan Imigresen Nasional (SKIN) project that was awarded to Prestariang Bhd was revoked.
The IIS will replace the current Malaysian Immigration System (MyIMMS) implemented since the 1990s.
MyIMMS is maintained by Heitech Padu Bhd and the contract is due to expire next August.
It is worth noting that Heitech Padu also saw a change in its shareholding recently.
Technology-based entrepreneur Wong Thean Soon, better known as T. S. Wong, surfaced as substantial shareholder in Heitech Padu along with Datuk Norraesah Mohamad through their investment vehicle, Asia Internet Holdings Sdn Bhd.
For perspective, Wong is the co-founder and managing director of e-government services provider, MYEG Services Bhd, while Norraesah is the chairman.
On Dec 16, Asia Internet bought about 3.74 million shares in Heitech Padu and on Dec 18, purchased an additional 3.08 million shares. Currently, Wong and Norraesah via Asia Internet control 8.43% in Heit- ech Padu.
So far, it remains unclear what Wong and Norraeshah have in mind for Heitech Padu, which has seen a 171% increase in share price year-to-date."
The cat is already out of the bag! Tan Sri Wong had since made their move. So, what are you waiting for? A limit-up before you jump in?!!
We refer to your Company’s announcement dated 17 December 2019, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
1. The net profit and net assets of DAPAT based on its latest audited financial statement.
2. The name of the directors and substantial shareholders of Television Airtime Services Sdn Bhd ("TASB") together with their respective direct and/or indirect shareholdings.
3. Heitech Padu Berhad ("HTPADU") original cost of investment in DAPAT and the date of such investment.
4. The particulars of:-
(i) any liabilities, including contingent liabilities, in relation to the Disposal which remain with HTPADU, together with the details and justification for such arrangements; and
(ii) any guarantees given by HTPADU to TASB or DAPAT.
5. The basis of arriving at the sale consideration, other than on a “willing buyer willing seller” basis and the justification for the sale consideration.
6. The breakdown of the type of working capital and the timeframe for full utilisation of proceeds.
7. The financial effect of the Disposal on the gearing of HTPADU Group.
8. The expected gains or losses to the HTPADU Group.
9. The estimated time frame to complete the Disposal.
10. The period and time during which the Agreement will be available for inspection.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
REPLY TO THE QUERY FROM BURSA MALAYSIA SECURITIES BERHAD (“BURSA SECURITIES”) DATED 19 DECEMBER 2019 REFERENCE NUMBER: IQL-19122019-00001 HEITECH PADU BERHAD (“HTPADU” OR THE “COMPANY”) SUBJECT: DISPOSAL OF 6,900,000 ORDINARY SHARES IN DAPAT VISTA (M) SDN BHD (“DAPAT”)(“DISPOSAL”)
We refer to the announcement dated 17 December 2019 (“Announcement”) and the query letter dated 19 December 2019 from Bursa Securities in relation to the Disposal. Unless stated otherwise, definitions used in this reply shall carry the same meaning as defined in the Announcement.
The Board wishes to provide the additional information as below:- 1) The net profit and net assets of DAPAT based on its latest audited financial statement. Based on the Audited Financial Statement of DAPAT for the year ended 31 December 2018, the net loss was RM257,804 and the net asset was RM2,866,240.
2) The name of the directors and substantial shareholders of Television Airtime Services Sdn Bhd (“TASB”) together with their respective direct and/or indirect shareholdings. The Directors of TASB are: a) Norwati binti Abd Razak b) Ashari bin Shuib The substantial shareholders of TASB are:- a) Tahir bin Othman – 2,185,000 ordinary shares (19%) b) Junaidi Yean bin Abdullah – 8,193,749 ordinary shares (71%) c) Perbadanan Nasional Berhad – 575,000 ordinary shares (5%)
3) HeiTech Padu Berhad (“HTPADU”) original cost of investment in DAPAT and the date of such investment. The original cost of investment in DAPAT was RM9,120,000. The date of the investment was 15 May 2013.
4) The particulars of:- i) any liabilities, including contingent liabilities, in relation to the Disposal which remain with HTPADU, together with the details and justification for such arrangements; and ii) any guarantees given by HTPADU to TASB or DAPAT. There are no contingent liabilities from HTPADU to TASB or DAPAT. There are no guarantees given by HTPADU to TASB or DAPAT.
5) The basis of arriving at the sale consideration, other than on a “willing buyer willing seller” basis and the justification for the sale consideration. The sale consideration was arrived based on negotiations and mutual agreement between both parties. Nevertheless, the agreed value is not detrimental to the Group.
6) The breakdown of the type of working capital and the timeframe for full utilisation of proceeds. The group intends to utilise the proceeds of the Disposal of RM13,500,000 by:- i) Embarking in new business ventures = RM5,000,000.00 ii) Working capital = RM8,500,000.00
7) The financial effect of the Disposal on the gearing of HTPADU Group. There will be no effect on the gearing of HTPADU Group as the utilisation of the proceeds will not be used to pay loans/borrowings but instead will be used on new business ventures and working capital.
8) The expected financial gains or losses to HTPADU Group The expected financial gains on Disposal to HTPADU Group is approximately RM6,300,000.
9) The estimated time frame to complete the Disposal The estimated time frame to complete the Disposal is from 13/12/2019 – 12/12/2023, or full payment of the Disposal, whichever is earlier.
10) The period and time during with the Agreement will be available for inspection. The Agreement is available for inspection at the registered office of HeiTech during office hours, from Monday to Friday (excluding public holidays) at Level 15, Menara HeiTech Village, Persiaran Kewajipan, USJ 1, UEP Subang Jaya, 47600 Subang Jaya, Selangor Darul Ehsan. This announcement is dated 20 December 2019.
haiyaaa only hardware upgrade like BSN, LHDN confirm 90% of the deal is IBM hardware and software cost. fulfilment for these technology giants only maaa. no big money here
Bisik2x...projek keutamaan Muhiyeedin ini akan melibatkan kepakaran software Heitech...cantek!!!
K'jaan tubuh agensi bagi selaras operasi, keselamatan di sempadan "Perkara ini sudah dibincangkan dengan Ketua Setiausaha Kementerian Dalam Negeri dan saya akan 'push' untuk menyegerakan penubuhannya," katanya kepada Bernama baru-baru ini. https://m.malaysiakini.com/news/504928
03-Jan-2020 Insider ASIA INTERNET HOLDINGS SDN BHD (a substantial shareholder) acquired 113,400 shares on 03-Jan-2020. 03-Jan-2020 Insider DATO' SRI MOHD HILMEY BIN MOHD TAIB (a substantial shareholder) disposed 40,000 shares on 02-Jan-2020. 03-Jan-2020 Insider DATO' SRI MOHD HILMEY BIN MOHD TAIB (a company director) disposed 40,000 shares on 02-Jan-2020. 31-Dec-2019 Insider PADUJADE CORPORATION SDN BHD (a substantial shareholder) disposed 550,000 shares on 31-Dec-2019. 30-Dec-2019 Insider PADUJADE CORPORATION SDN BHD (a substantial shareholder) disposed 177,000 shares on 30-Dec-2019.
Something big must has been brewing behind the scene lately esp with the IIS (formerly SKIN) award that is due to be announced by Jan'2020.
TS Wong has been aggressively buying almost every other day. Due to the small free float, the only way for the price to go is upwards.
At 10.12% direct interest, Asia Internet only needs to acquire another 23% to trigger a Mandatory Offer. Who knows, they might offer up to RM8 to take it private!!!
At the meantime, grab some before it takes off :-)))
The US and Iran conflict is going to heightened and prolonged . Subsequently, it will dragged the market to falter furthermore . Investors with the slightest profits gained will disposed to lock up profits for safety first.
By now, its rather clear that TS Wong must be targeting HTPadu's lucrative eWallet JV project with the Indon company, PT Kirana Investama Nusantara. That explains why he became a *substantial shareholder via Asia Internet Holdings Sdn Bhd recently. What an ingenious way to stamp his mark in Indonesia!
*Oh, and on a side note, its certainly not hard to guess who that big buyer was queueing at 1.17 today yeah! :-)
IIS bid outcome is supposed to be release in this month. It is either sharp rise (successful) or sharp drop (fail). However, there is also another possible scenario of "Buy on rumours, sell on news". ¯\_(ツ)_/¯
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Posted by Cnlim > 2019-12-19 06:18 | Report Abuse
When the stock is going up alot of cheerleaders will be in this forum