HeiTech Padu wins RM19.87 million immigration maintenance extension
The two-year extension runs until Feb 17, 2029, as Malaysia prepares to replace MyIMMs with NIISe.
HeiTech Padu Bhd said the Immigration Department has extended its Malaysian Immigration System (MyIMMs) maintenance contract by another two years for RM19.87 million. The company disclosed the award in a bourse filing.
The new term starts on Feb 18, 2027, and finishes on Feb 17, 2029. An 8% sales and service tax is included in the value. HeiTech Padu expects the extension to support earnings and net assets per share in FY2027, which ends on Dec 31, 2027, and throughout the contract period.
This is the third extension since the company received the original RM33.92 million award in March 2021. That three-year contract was followed by a RM13.11 million extension in March 2024 and a further RM28.26 million extension in January 2025.
The latest maintenance term goes beyond the Home Ministry's October 2028 target for nationwide expansion of the National Integrated Immigration System (NIISe). The ministry previously said both systems would have to operate concurrently during the transition to avoid interrupting immigration services.
HeiTech Padu is also developing NIISe, the planned replacement for MyIMMs. Its October 2024 award was valued at RM892.2 million before a wider scope lifted the contract value to RM1.05 billion.
HeiTech Padu shares ended unchanged at 89.5 sen, valuing the company at RM145.9 million. The stock has fallen 47.35% year to date.
