KUALA LUMPUR: MY E.G. Services Bhd's subsidiary, MY E.G. Capital Sdn Bhd, has increased its stake in HeiTech Padu Bhd after news surfaced that HeiTech is once again a leading contender for the multi-billion ringgit National Integrated Immigration System (NIIse) project.
On September 17, MY E.G. Capital purchased 605,600 shares in HeiTech, when the share price reached a six-month high of RM2.99. According to a Bursa Malaysia filing, MY E.G. Capital now holds 16.6 million shares, representing a 14.9 per cent stake in HeiTech.
Earlier, on March 7, MY E.G. Capital acquired a 14.4 per cent stake in HeiTech Padu for RM31.2 million.
A financial weekly, quoting sources, recently reported that HeiTech Padu is expected to announce the award of the contract soon.
Last week, HeiTech Padu secured a RM133.73 million project from the Road Transport Department to build, supply, deliver, install, configure, integrate, test, and commission its hardware, software, and digital systems.
MY E.G. Services' stock price rose by 2.69 per cent, closing at 95.5 sen, up by 2.5 sen.
Meanwhile, HeiTech Padu closed at RM3.01, an increase of 2 sen from its previous close of RM2.99.