KUALA LUMPUR (Nov 8): HeiTech Padu Bhd has secured a RM48.23 million contract to integrate the Foreign Workers Medical Examination Monitoring Agency (Fomema)'s foreign worker medical examination system with the Immigration Department's myIMMs immigration system. In a bourse filing today, HeiTech Padu said the project will commence on the date of the official signing of the new concession agreement between Fomema and the Malaysian government. "In the event that no such award be issued by the government to Fomema within six months from the date of acceptance of this letter of award, the letter of award shall automatically lapse," it added. HeiTech Padu said the contract will not have any material impact on its net asset for the financial year ending Dec 31, 2016, but expects positive contribution to its financial performance in the future. Shares of HeiTech Padu were untraded today.

Source: The Edge Markets November 08, 2016 12:00 UTC