Profit-taking Hits Heitech Padu After RM892 Mln NIISe Contract News

KUALA LUMPUR, Oct 21 (Bernama) -- HeiTech Padu Bhd shares fell 4.61 per cent in early trade due to profit-taking following the announcement of a RM892.19 million contract secured for the National Integrated Immigration System (NIISe) project by the Immigration Department of Malaysia.

At 10.02 am, the stock declined by 20 sen to RM4.14, with 3.92 million shares traded.

The IT service management company stated on Friday that the contract spans 60 months, from Oct 18, 2024 to Oct 17, 2029.

The contract covers a wide scope, including the study, proposal, design, development, supply, delivery, installation, testing, integration, data migration, synchronisation, commissioning, change management and training for the NIISe project.

The company must also submit a performance bond worth RM8.92 million to the Malaysian government within 30 days of acknowledging receipt of the award.

-- BERNAMA