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HeiTech Padu proposes private placement to raise RM22.98 mil for working capital | Scoop

HeiTech Padu Berhad fb — HeiTech Padu has recently announced that it has entered into a contract with the Road Transport Department worth RM190.01 million. – HeiTech Padu Berhad Facebook pic, April 17, 2024

HeiTech Padu proposes private placement to raise RM22.98 mil for working capital

10.12 mil new ordinary shares will represent 10% of total issued by company

Updated 17 April, 2024

17 April, 2024

7:11 PM MYT

KUALA LUMPUR – HeiTech Padu Bhd has proposed a private placement of 10.12 million new ordinary shares, raising gross proceeds of RM22.98 million, which will be utilised for working capital.

The issuance of new ordinary shares represents 10% of the total number of issued shares of the company and the placement shares will be placed to third-party investors to be identified later.

“These proceeds shall mainly be utilised for staff salaries, employers’ statutory contributions, payment to suppliers and creditors, office administrative expenses, utilities expenses and overhead expenses,” it said in a filing with Bursa Malaysia today.

In an earlier filing with the bourse, HeiTech Padu said it had bagged a contract from the Road Transport Department (JPJ) worth RM190.01 million on Monday.

The tender is for the maintenance and technical support services for the information and communications technology infrastructure and MySikap system in all JPJ offices.

The contract is for a period of 36 months commencing from May 1, 2024 to April 30, 2027. – April 17, 2024

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