HeiTech Padu bags RM19.2m contract

PETALING JAYA: HeiTech Padu Bhd has accepted a letter of award (LOA) for the design, supply, delivery, installation, commissioning and completion of mechanical and electrical works with a contract value of RM19.20 million.

In a filing with Bursa Malaysia, HeiTech said its subsidiary Duta Technic Sdn Bhd received the LOA on Oct 17, 2017 from Gading Kencana Development Sdn Bhd.

The scope of the project is to complete design of 132kV switching substation and 33/132kV step-up substation, HV equipment, secondary systems and all ancillary plus single circuit loop-in loop-out of 132kV switching substation to existing TNB 132kV overhead transmission line.

The project commenced on Oct 18, 2017 and will be completed on May 28, 2018. It will not have any material effect on the group's net asset for the financial year ending Dec 31, 2017 and is expected to contribute positively to the future earnings of the group.

HeiTech Padu's share price fell 1.28% to close at 77 sen with a total of 55,900 shares traded, giving it a market capitalisation of RM77.94 million.