- HeiTech Padu Bhd has secured a RM1.04 billion hydroelectric project with Voith Hydro, set to begin on March 31.
- This venture aims to diversify its operations into renewable energy, significantly boosting its net profit and assets.
A strategic move into Hydropower
HeiTech Padu Bhd, a key player in Malaysia’s technology sector, is entering the renewable energy market with a RM1.04 billion hydroelectric project. The company has partnered with Voith Hydro GmbH & Co KG to secure this contract from TNB Power Generation Sdn Bhd. This project, part of the Hydro Life Extension Programme for Sungai Perak, demonstrates HeiTech’s commitment to sustainability and innovative energy solutions.
The project will start on March 31 and will involve engineering, procurement, construction, and commissioning (EPCC) services for facilities like SJ Temengor, SJ Bersia, and SJ Kenering. HeiTech’s share of the contract is RM902.96 million, which is expected to significantly increase its net profit and assets. This move aligns with the global shift toward renewable energy and positions HeiTech as a leader in the industry.
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Financial growth and future prospects
Recently, HeiTech reported a net profit of RM7.16 million for the nine months ending September 30, 2024, a notable recovery from a net loss of RM9.19 million the previous year. This turnaround comes from a 22.5% increase in revenue, showcasing the company’s resilience in a competitive market. With cash reserves of RM48.12 million, HeiTech is well-equipped for expansion into renewable energy.
As the largest shareholder, Rosetta Partners Sdn Bhd and key stakeholders support HeiTech’s growth vision. Focused on sustainable energy development, HeiTech Padu is investing in the future of energy in Malaysia. This bold step places the company at the forefront of the renewable energy landscape, promising a greener tomorrow for the nation.
