KUALA LUMPUR (Sept 13): Information and communication technology (ICT) provider HeiTech Padu Bhd (KL:HTPADU) said on Friday it has secured a RM133.73 million contract from the Road Transport Department Malaysia (JPJ).
The contract involves the development and supply of hardware and software for JPJ, and a revamp of the agency's digital system, HeiTech Padu said in a Bursa Malaysia filing.
The 36-month contract is expected to start from Oct 1 this year and be completed by Sept 30, 2027.
HeiTech Padu expects the contract to contribute positively to its earnings and net assets per share for the financial year ending Dec 31, 2024, and throughout the contract period.
This marks the second contract the technology services provider has bagged from JPJ this year.
Early in April, HeiTech said it clinched a RM190.01 million contract to provide maintenance and technical support services for JPJ's information and communications technology infrastructure and MySIKAP (driver and vehicle information) system.
For the second quarter ended June 30, 2024 (2QFY2024), HeiTech Padu reported a net profit of RM449,000, marking a turnaround from a net loss of RM4.53 million in 2QFY2023, as revenue grew 13.07% to RM63.27 million from RM55.96 million, driven by higher earnings across its technology, investment, and niche market groups.
Shares in HeiTech Padu rose one sen higher or 0.44% to close at RM2.30 on Friday, giving the company a market capitalisation of RM256.1 million. Year-to-date, the stock has surged 158.43%.