Heitech

Email This Print This News

Others

BackMar 01, 2017
Type Announcement
Subject OTHERS
Description

CONTRACT (AGREEMENT) BETWEEN PERMODALAN NASIONAL BERHAD AND HEITECH PADU BERHAD FOR THE SUPPLY, INSTALLATION, COMMISSIONING, OPERATION, AND MAINTENANCE OF MANAGED WIDE AREA NETWORK (WAN) INFRASTRUCTURE SERVICES FOR PERMODALAN NASIONAL BERHAD (PNB) AND AMANAH SAHAM NASIONAL BERHAD (ASNB)

CONTRACT (AGREEMENT) BETWEEN PERMODALAN NASIONAL BERHAD AND HEITECH PADU BERHAD FOR THE SUPPLY, INSTALLATION, COMMISSIONING, OPERATION, AND MAINTENANCE OF MANAGED WIDE AREA NETWORK (WAN) INFRASTRUCTURE SERVICES FOR PERMODALAN NASIONAL BERHAD (PNB) AND AMANAH SAHAM NASIONAL BERHAD (ASNB)

 

 

1.         Introduction

HeiTech Padu Berhad (“HeiTech” or “the Company”) is pleased to announce that it had entered into an Agreement with Permodalan Nasional Berhad (PNB) for The Supply, Installation, Commissioning, Operation, and Maintenance of Managed Wide Area Network (WAN) Infrastructure Services for PNB and ASNB on the 15th February 2017.

 

The Agreement was stamped on 15 February 2017.

 

The Company has received a consent letter from PNB on 1st March 2017 for HeiTech to release an announcement to Bursa Malaysia.

 

2.         The Contract Value

 

The Contract Value of the project is RM41,870,000.00 (Ringgit Malaysia Forty One Million Eight Hundred Seventy Thousand Only) (Inclusive of 6% GST)

 

3.         Duration of the Project


The Contract is for a period of 5 years commencing from 1st September 2016 to 31st August 2021.


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 2017 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


At the last Annual General Meeting (“AGM”) held on the 21st June, 2016, the Company had obtained shareholders mandate to enter into recurrent related party transactions with the aforementioned mandated party.

 


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 Agreement 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 2017.

 

This announcement is dated 1st March 2017.

 


Announcement Info

Company Name HEITECH PADU BERHAD
Stock Name HTPADU
Date Announced 01 Mar 2017
Category General Announcement for PLC
Reference Number GA1-01032017-00041

Attachments

  1. Announcement_Bursa_1st_March_2017.doc (Size: 35,328 bytes)