BRIGHT PROSPECTS
HEITECH Padu Bhd is ready to bid for more solar energy interconnection facility projects in Malaysia, the Middle East and Asean, following its recent wins worth RM75.16 million for solar plants in Kedah, Melaka and Terengganu.
DESPITE the stiff competition, information technology (IT) services firm HeiTech Padu Bhd will continue to bid for projects in the solar energy high voltage interconnection facility tor.
The company said competition was stiff for solar energy generation projects submitted to the Energy Commission Malaysia.
“Despite the challenges, we aim to secure new projects and also recurring businesses from existing customers,” chairman Datuk Seri Mohd Hilmey Mohd Taib told NST Business.
He said countries in the Middle East and Asean were also in its scope.
Hilmey said the government had announced that by 2020, solar power generation would exceed 2,000MWac.
On Tuesday, HeiTech secured contracts totalling RM75.16 million to set up high-voltage interconnection facility for three solar power plants in Kedah, Melaka, and Terengganu.
The scope of work for 3x50MW solar power plants includes engineering design covering civil and structural works and high voltage electrical equipment, installation of underground cable and overhead transmission line and other related works.
The company told Bursa Malaysia that the job was expected to be completed by January next year.
Sixty per cent of HeiTech’s revenue comes from government projects under the Road Transport Department and Immigration Department and the rest are from the private sector.
Hilmey also said the IT sector had potential for further growth.
“However, this has to be supported by a favourable economic environment and the government’s policy framework that encourages the development of the market. We are optimistic the IT revolution holds the potential of transforming economies and societies, and addressing some of the most pressing global challenges of our time.”
Hilmey said despite the tough economic environment, the focus remained on moving HeiTech into profitability, long-term stability and growth.
“Our managed services, national security and transportation segments continue to be the main drivers of the group. However, we need to enhance our value by building long-term sustainable businesses,” he added.