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BackOct 10, 2016
Type Announcement
Subject OTHERS
Description

APPOINTMENT AND ACCEPTANCE FOR DATA CENTRE SERVICES NO. 2 AND DISASTER RECOVERY CENTRE FOR A PERIOD OF 3 YEARS FOR THE CONSTRUCTION INDUSTRY DEVELOPMENT BOARD (CIDB)

APPOINTMENT AND ACCEPTANCE FOR DATA CENTRE SERVICES NO. 2 AND DISASTER RECOVERY CENTRE FOR A PERIOD OF 3 YEARS FOR THE CONSTRUCTION INDUSTRY DEVELOPMENT BOARD (CIDB)

1.         Introduction

HeiTech Padu Berhad (“HeiTech” or “the Company”) is pleased to announce that the Company has on 10 October 2016 accepted a Letter of Award for the Appointment and Acceptance for Data Centre Services No. 2 and Disaster Recovery Centre for a period of 3 years for the Construction Industry Development Board (CIDB)

2.         The Contract Value

The Contract Value of the project is RM7,670,160.00 (Ringgit Malaysia Seven Million Six Hundred Seventy Thousand One Hundred Sixty Only) (Inclusive 6% GST).

3.         Duration of the Project

The Contract is for a period of Three (3) years. The Contract has yet to be executed.

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 2016 and is expected to contribute positively to the future earnings of HeiTech Group.

5.         The risks in relation to the contract

The risks are 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 is of the opinion that the execution of the contract is in the ordinary course of business and is in the best interest of the Company.

8.         Financial effects

The Letter of Award will have a positive effect on the earnings per share. Nevertheless, the Contract will have no material effect to the dividened policy, gearing, share capital and the substantial shareholders’ shareholdings of the Company for the financial ending 31st December 2016.

 

This announcement is dated 10 October 2016. 

 


Announcement Info

Company Name HEITECH PADU BERHAD
Stock Name HTPADU
Date Announced 10 Oct 2016
Category General Announcement for PLC
Reference Number GA1-10102016-00071