KUALA LUMPUR (Sept 10): HE Group Bhd (KL:HEGROUP) has secured a purchase order worth an estimated RM25 million for power distribution system works for a manufacturer of NAND flash memory products in Malaysia.

In a bourse filing, the electrical engineering services provider said its wholly-owned subsidiary Hexatech Engineering Sdn Bhd accepted the purchase order on Thursday. The unnamed customer is involved in the assembly, testing and packing of NAND flash memory products.

The project commenced upon acceptance of the purchase order and is expected to be completed within 20 weeks, said the group. 

NAND flash memory is a type of non-volatile computer memory that keeps stored data even when the power source is turned off.

HE Group said the contract value is subject to variations, additions or omissions under the terms of the purchase order. It expects the project to contribute positively to its future earnings, barring unforeseen circumstances.

The purchase order will not affect HE Group’s share capital or the shareholdings of its substantial shareholders, according to the filing. 

Shares of HE Group were up by three sen or 3.3% to 94 sen at the time of writing on Thursday, giving the group a market capitalisation of RM413.6 million.