HeiTech Padu Berhad has announced that it has accepted an amendment to its existing contract with the Government of Malaysia for the National Integrated Immigration System (NIISe) project, awarded through the Immigration Department of Malaysia.
In a filing with Bursa Malaysia, HeiTech said the amendment pertains to its contract for the study, proposal, design, development, supply, delivery, installation, testing, integration, data migration and synchronization, commissioning, as well as change management and training services related to the NIISe system.
Following the amendment, the value has been revised to RM1.05 billion (inclusive of 8% Sales and Service Tax). The company noted that the adjustment reflects updated project requirements and implementation scope.
As part of the revised terms, HeiTech is required to submit a new or additional performance bond to the Government of Malaysia.
According to the amendment, the company must provide either: a new irrevocable performance bond amounting to RM10.52 million, valid from 18 October 2024 until 17 October 2030, or an additional irrevocable performance bond of RM1.60 million, with an extended validity period until 17 October 2030.
The performance bond must be submitted within 30 days from the company’s acknowledgement of the amendment letter.
HeiTech stated that, barring any unforeseen circumstances, the amended contract is expected to contribute positively to the company’s earnings and net assets per share for the financial year ending 31 December 2025, and will continue to do so over the duration of the contract period.
The NIISe project, designed to replace the legacy Malaysian Immigration System, aims to enhance the efficiency, integration, and security of national immigration operations.
