KUALA LUMPUR: MyEG Services Bhd’s (MyEG) wholly-owned subsidiary, MyEG Capital Sdn Bhd, has acquired 14.4% equity interest in Heitech Padu Bhd
for RM31.25mil cash.
In a filing with Bursa Malaysia, MyEG said MyEG Capital acquired an aggregate of 14.57 million ordinary shares representing 14.4% equity interest in HeiTech Padu via open market and direct business transactions.“The acquisition is a strategic investment which will allow the company to explore potential collaborations with HeiTech to create synergies by leveraging on the respective expertise and experience of both parties as established e-government service providers,” MyEG said.
Meanwhile, in a separate filing with the stock exchange, Heitech Padu said it had received a contract extension worth RM13.11mil for the comprehensive maintenance and service contract for the Immigration Department’s Malaysian Immigration System.
The contract extension is for 12 months commencing from Feb 18, 2024 to Feb 17, 2025. “Any further renewal or extension of the duration is at the discretion of the government. It is in the best interest of the company and is expected to contribute positively to the earnings and net assets per share of the company for the financial year ending Dec 31, 2024 and Dec 31, 2025,” it added.
