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BackMar 09, 2018
Type Announcement
Subject OTHERS
Description

CONTRACT (AGREEMENT) BETWEEN PERMODALAN NASIONAL BERHAD AND HEITECH PADU BERHAD FOR OUTSOURCING OF IT SERVICES WHICH CONSIST OF; APPLICATION SERVICES, DATA CENTRE SERVICES, DISASTER RECOVERY SERVICES, DESKTOP MANAGEMENT SERVICES, AND HELPDESK SERVICES

CONTRACT (AGREEMENT) BETWEEN PERMODALAN NASIONAL BERHAD AND HEITECH PADU BERHAD FOR OUTSOURCING OF IT SERVICES WHICH CONSIST OF; APPLICATION SERVICES, DATA CENTRE SERVICES, DISASTER RECOVERY SERVICES, DESKTOP MANAGEMENT SERVICES, AND HELPDESK SERVICES

 

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 Outsourcing of IT Services which consist of; Application Services, Data Centre Services, Disaster Recovery Services, Desktop Management Services, and Helpdesk Services, on the 1st March 2018.

 

The Company has received a consent from PNB on 9th March 2018 for HeiTech to release an announcement to Bursa Malaysia.

 

2.         The Contract Value

 

The Contract Value of the project is RM27,136,000.00 (Ringgit Malaysia Twenty Seven Million One Hundred Thirty Six Thousand Only) (Inclusive of 6% GST)

 

3.         Duration of the Project


The Contract is for a period of 2 years commencing from 1st January 2018 to 31 December 2019. Any further renewal or extension of the Contract is at the discretion of PNB.


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 2018 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 20th June, 2017, the Company had obtained shareholders mandate to enter into recurrent related party transactions with the aforementioned mandated party.

Tuan Syed Agel bin Syed Salim (Tuan Syed Agel) and Puan Amizar binti Mizuar (Puan Amizar) are the Non-Independent Non- Executive Directors of HeiTech Padu Berhad, representing as the nominee of PNB. Tuan Syed Agel owns 12,500 ordinary shares in HeiTech. Tuan Syed Agel, and Puan Amizar are deemed persons connected to PNB.

 

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 2018.

 

This announcement is dated 9th March 2018.



Please refer attachment below.

 


Announcement Info

Company Name HEITECH PADU BERHAD
Stock Name HTPADU
Date Announced 09 Mar 2018
Category General Announcement for PLC
Reference Number GA1-09032018-00051

Attachments

  1. Announcement_Bursa_9th_March_2018.doc (Size: 36,864 bytes)