MYEG signs teaming agreement with Heitech

PETALING JAYA: MYEG Services Bhd and Heitech Padu Bhd, both linked to businessman Wong Thean Soon or T.S. Wong, have joined hands to “explore services” in the Malaysian information technology (IT) industry.

The technology companies signed a teaming agreement yesterday to form an interim collaboration, slightly over a month after Wong emerged as a major shareholder in Heitech.

A key component of the collaboration will be “system integration of information and technology solution for identified projects to potential customers”, according to filings with the stock exchange made by both companies.

It is noteworthy that Heitech is speculated to be in the running to secure the national integrated immigration system contract, which is said to be worth over Rm1bil.

The company has also been in the limelight recently after former political secretary of Datuk Seri Anwar Ibrahim – Datuk Farhash Wafa Salvador – emerged as the single-largest shareholder with a stake of 15.91%.

Currently, Wong owns a 15.89% stake in Heitech via MYEG Capital Sdn Bhd. Meanwhile, in MYEG, he controls a direct equity interest of 12.5% and an indirect stake of 16.37%.

The agreement between Heitech and MYEG will be valid for the next one year.

This is unless and until superseded by a subsequent agreement entered into by the parties, whichever is the earlier, according to the filings.

In a filing with Bursa Malaysia yesterday, MYEG said the collaboration entailed marketing activities, sharing of related knowhow, and system integration of information and technology solution for identified projects to potential customers.

“Datuk Mohd Jimmy Wong Abdullah and Wong Thean Soon, who are the interested directors and/or major shareholders, have abstained and will continue to abstain from all deliberations and voting on the agreement at the relevant board meetings of MYEG,” the company said in the statement.