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Update HeiTech gets RM177mil RTD contract through direct negotiation

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Update HeiTech gets RM177mil RTD contract through direct negotiation Empty Update HeiTech gets RM177mil RTD contract through direct negotiation

Post by Cals Thu 18 Sep 2014, 21:56

Update HeiTech gets RM177mil RTD contract through direct negotiation
Business & Markets 2014
Written by Gho Chee Yuan of theedgemalaysia.com   
Thursday, 18 September 2014 17:57

KUALA LUMPUR (Sept 18): HeiTech Padu Bhd announced today it has secured a system upgrading contract worth RM177 million from the Road Transport Department (RTD). 

HeiTech told Bursa Malaysia that it had accepted a Letter of Award (LoA) for the contract, on a direct negotiation basis, from RTD today.

The contract is for the mainframe capacity upgrade of RTD's system from the present IBM Z10-402 to IBM ZEC12-503.

"The contract is for a period of five years commencing from September 2014 to September 2019," its filing to the bourse read, adding that any further renewal or extension of the duration is at the discretion of the government.

HeiTech said the proposed transaction would not have any material effect on the group’s net asset for the financial year ending December 31, 2014.

"However, it is expected to contribute positively to the future earnings of the group,” it added.
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