HeiTech lifts stake in Grand-Flo to 20.06pc

HeiTech Padu Bhd has acquired another 1.6 million ordinary shares of Grand-Flo Solution Bhd, representing, 1.01 per cent of the total issued and paid-up capital, for RM695,116.

In a statement to Bursa Malaysia today, HeiTech said it now has 20.06 per cent stake in Grand-Flo.

It said the rationale for the acquisition was to provide a platform for the company to venture into value-added business of research and development on the enterprise data collection and collation system (EDCCS).

"The acquisition will enable HeiTech to diversify its business and also value add to its existing business of providing total information technology business solution," it said.

HeiTech sais the company would pay for the purchase with internally-generated funds.

Grand-Flo specialises in the provision of comprehensive EDCCS to businesses in all industries. --- Bernama