KUALA LUMPUR (Jan 17): HeiTech Padu Bhd (KL:HTPADU) has secured a second-time contract extension for the provision of maintenance services for the Malaysian Immigration System (MyIMMs), valued at RM28.26 million.  

The two-year extension will commence on Feb 18, 2025, and runs until Feb 17, 2027. Any further renewal or extension remains at the government’s discretion, the company said in a filing with Bursa Malaysia on Friday.  

“The contract extension is in the best interest of the company and is expected to contribute positively to the earnings and net assets per share of the company for the financial year ending Dec 31, 2025 and onwards until the completion of the contract,” the company said.  

HeiTech Padu, a systems integration and application development solutions provider, initially secured the MyIMMs maintenance contract in March 2021 for RM33.92 million for a three-year period. The contract was renewed for a year in March last year for RM13.11 million.  

For the nine-month period ended Sept 30, 2024, HeiTech Padu posted a net profit of RM7.16 million, reversing a net loss of RM9.19 million in the corresponding period last year. Revenue for the period rose 20% to RM233.98 million from RM190.94 million. This was attributed to gain from the disposal of land and building.

Shares in HeiTech Padu declined eight sen or 2.96% to close at RM2.62 on Friday, giving the company a market capitalisation of RM291.73 million. The stock has been on a downward trend since reaching a historical high of RM4.43 in October last year.  

That same month, the company secured the much-coveted RM892.2 million National Integrated Immigration System (NIISe) project.

Datasonic Group Bhd (KL:DATASONIC) has secured a fresh contract from the Home Ministry for the maintenance of the facial live capture (FLC) system at Immigration Department offices.

The RM6.37 million contract, awarded to its wholly owned subsidiary Datasonic Technologies Sdn Bhd, covers the maintenance of equipment, software, and applications for the FLC system for a 36-month period from Feb 25, 2025, according to the company’s bourse filing.

The ministry had first offered Datasonic Technologies the FAC maintenance job in February 2021.

Datasonic said that for the new contact, Datasonic Technologies is required to provide a performance bond of RM106,200 to the ministry.

It added that the contract is expected to contribute positively to its future earnings and enhance its net assets.

Shares of Datasonic gained 1.28% or half a sen to close at 39.5 sen on Friday, giving the company a market capitalisation of RM1.09 billion.

Read also:
HeiTech Padu wins RM34m contract from Immigration Department
https://theedgemalaysia.com/article/heitech-padu-wins-rm34m-contract-immigration-department
HeiTech Padu gets one-year extension for provision of immigration system maintenance services
HeiTech wins bid for RM892.2 mil NIISe project