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BackNov 23, 2017
Type Announcement
Subject OTHERS
Description

ACCEPTANCE OF LETTER OF AWARD FOR SUPPLY, RENTAL, IMPLEMENTATION, TRAINING SUPPORT, AND MAINTENANCE OF SECURITY INFRASTRUCTURE FOR COMPANIES COMMISSION OF MALAYSIA

ACCEPTANCE OF LETTER OF AWARD FOR SUPPLY, RENTAL, IMPLEMENTATION, TRAINING SUPPORT, AND MAINTENANCE OF SECURITY INFRASTRUCTURE FOR COMPANIES COMMISSION OF MALAYSIA

 

1.         Introduction

HeiTech Padu Berhad (“HeiTech” or “the Company”) is pleased to announce that the Company has on 23th November 2017 received a Letter of Award for Supply, Rental, Implementation, Training Support, and Maintenance of Security Infrastructure for Companies Commission of Malaysia (SSM)

 

2.         The Contract Value

 

The Contract Value of the project is RM33,300,000.00 (Ringgit Malaysia Thirty Three Million and Three Hundred Thousand Only).

 

3.         Duration of the Project


The Contract is for a period of Three (3) years commencing from 20 November 2017 to 21 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


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 contract 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 23 November 2017. 

 

 


Announcement Info

Company Name HEITECH PADU BERHAD
Stock Name HTPADU
Date Announced 23 Nov 2017
Category General Announcement for PLC
Reference Number GA1-23112017-00065

Attachments

  1. Announcement_23.11.2017.doc (Size: 33,280 bytes)