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BackJun 08, 2015
Type Announcement
Subject OTHERS
Description
ACCEPTANCE OF THE LETTER OF AWARD FOR THE PROCUREMENT OF MAINTENANCE SERVICES AND SPARE PARTS FOR RADAR ARTHUR WLS FOR THE ARMY (MINISTRY OF DEFENCE)

ACCEPTANCE OF THE LETTER OF AWARD FOR THE PROCUREMENT OF MAINTENANCE SERVICES AND SPARE PARTS FOR RADAR ARTHUR WLS FOR THE ARMY (“MINISTRY OF DEFENCE”)


1.         Introduction

HeiTech Padu Berhad (“HeiTech” or “the Company”) is pleased to announce that the Company has accepted a Letter of Award from the Government of Malaysia for the Procurement of Maintenance Services and Spare Parts for Radar Arthur WLS.

2.         The Contract Value

The Contract Value of the project is RM6,890,000.00 (GST INCLUSIVE) [RINGGIT MALAYSIA SIX MILLION EIGHT HUNDRED AND NINETY THOUSAND ONLY] .

3.         Duration of the Project

The Contract is for a period of three (3) years, as and required. Any further renewal or extension is upon the discretion by the Government.

4.         The effect on net assets of the Group

The Proposed Transaction will not have any material effect on HeiTech Group's Net Asset for the financial year ending 31 December 2015 and is expected to contribute positively to the future earnings of HeiTech Group.

5.         The risks in relation to the contract

The risks are the normal risks encountered by other companies undertaking a similar endeavor and the Group has taken the necessary steps to protect itself and to mitigate the risks when and as it occurs.

6.         Directors' and Substantial Shareholders' Interest

None of the Directors or substantial shareholders or any person connected to the Directors or substantial shareholders of HeiTech has any interest, either direct or indirect in the above Contract.

7.         Statement of the Directors

The Board of Directors of the Company is of the opinion that the above Contract is in the ordinary course of business and is in the best interest of the Company.

8.         Financial effects

The Letter of Award is not expected to have any material effect on the earnings per share, dividend policy, gearing, share capital and the substantial shareholders’ shareholdings of the Company for the financial year ending 31st December 2015.

This announcement is dated 8 June 2015.

Please refer attachment below.

 


Announcement Info

Company Name HEITECH PADU BERHAD
Stock Name HTPADU
Date Announced 08 Jun 2015
Category General Announcement for PLC
Reference Number GA1-08062015-00038

Attachments

  1. Announcement_-_MOD.doc (Size: 29,696 bytes)