HeiTech Padu Berhad announced that it has signed a Letter of Award from Ministry of Defence, Malaysia for “Kontrak Senggaraan Tactical Operational Flight Trainer, Computer Based Training, Fasiliti Dan Enhance Training Aid System Di Bangunan Simulator Sukhoi 30-MKM, Air Defence Simulator System Serta Peningkatan Sistem Sedia Ada.
The contract value for the project is said to be RM66.8 million with a period of 5 years and commencing from the date the LOA is signed.
The Contract is expected to have positive effects on future earnings, net assets, and earnings per share of HeiTech. Nevertheless, the Contract will have no material effect on the dividend policy, share capital and substantial shareholdings of the Company for the financial year ending 31 December 2022
