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HeiTech Padu Berhad Targets Stronger Earnings Growth after Returning to Profitability for FY2023

SUBANG JAYA: HeiTech Padu Berhad (HeiTech or the Group) has returned to profitability in the financial year ending December 31, 2023 (FY2023), reporting a profit of RM7.2 million to Bursa Malaysia compared to losses of RM10 million in 2022. This turnaround of RM17.2 million is attributed to improved profit margins resulting from effective cost management and successful acquisition of new contracts in both public and private sectors amidst heightened competition and economic uncertainty. Contracts secured include those from key ministries and agencies such as the Ministry of Education, Ministry of Domestic Trade and Cost of Living, Ministry of Health, Inland Revenue Board of Malaysia, and an extended contract with the Immigration Department of Malaysia.

 

Salmi Nadia Mohd Hilmey, Group Managing Director and Group Chief Executive Officer, emphasized HeiTech’s commitment to delivering value-added solutions and services to customers, driving stronger earnings growth. Over the past 30 years, HeiTech’s track record in developing and managing technological solutions for public and private sector clients has fueled its growth. The company’s success in securing high-profile government contracts is attributed to its consistent delivery and merit-based approach.

Established as a leading player in Malaysia’s IT industry, HeiTech has driven technological transformation for governmental, financial, and commercial organizations through strategic collaborations and partnerships. It has evolved from a system integrator and managed infrastructure provider to offering digital and emerging products like smart parking systems, e-KYC, payment gateways, and smart applications for local councils, cooperatives, schools, and teaching portals.

HeiTech’s regional expansion initiatives include ventures into Indonesia, where it launched financial systems for cooperatives, a school administration system, and a mobile app for teachers and students through PT DesaTech Nusantara, an investee company.

Looking ahead, HeiTech aims to become a comprehensive Digital Technology Service Provider by leveraging emerging technologies, broadening operational capabilities, expanding its customer base, diversifying its business, and enhancing its financial position.

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