Quick take: HeiTech Padu shares lifted by parking contracts

KUALA LUMPUR: Shares of HeiTech Padu Bhd rose almost 8% on Thursday morning after securing two smart-parking system concessions.

One of the most active counters, HeiTech Padu rose 7.94%, or 7.5 sen to RM1.02, with 10.2 million shares traded. In the past one year, its shares have appreciated more than 80%.

HeiTech Padu has bagged two contracts to develop and manage smart parking systems on Penang Island and Seberang Perai.

The group accepted the Letters of Award from Majlis Bandaraya Pulau Pinang (MBPP) and Majlis Perbandaran Seberang Perai (MPSP).

The contracts are revenue-sharing concessions between HeiTech and MBPP and MPSP respectively, based on agreed parking rates.

Source : TheStar