KUALA LUMPUR (Aug 28): HeiTech Padu Bhd (KL:HTPADU) shares plunged as much as 30% in early trading on Friday, prompting Bursa Malaysia to issue an unusual market activity (UMA) query to the information technology services provider.
The stock fell to an intraday low of 87.5 sen before paring losses. At 3.14pm, it traded at 96 sen, down 29 sen or 23.2% from Thursday’s close of RM1.25. About 412,100 shares changed hands.
The sharp decline came a day after HeiTech Padu reported a 99% slump in second-quarter net profit, hurt by higher project implementation costs and a sharp increase in hardware and software purchases.
Net profit for the second quarter ended June 30, 2026 (2QFY2026) fell to RM70,000 from RM8.09 million a year earlier, despite revenue surging 95% to RM165.68 million from RM84.9 million.
Project implementation costs more than doubled to RM25.55 million from RM12 million, while purchases of hardware and software jumped 257% to RM83.81 million from RM23.46 million.
As a result, HeiTech Padu's net profit for the cumulative six months ended June 30, 2026 (1HFY2026) fell 86% to RM2.52 million from RM18.06 million a year earlier.