Was the RM190 million contract awarded before or after Farhash bought shares?

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The RM190 Million Contract Was Awarded Before Farhash Purchased Shares

The RM190 million contract for the servicing and maintenance of the Road Transport Department’s (RTD) MySikap and Mainframe systems was approved on February 2, 2024. This approval predates Datuk Farhash Wafa Salvador's acquisition of a 15.09 per cent stake in HeiTech Padu Bhd, which occurred on March 16, 2024.
Contract Approval Timeline

The Ministry of Finance made its decision on the tender award on February 2, 2024. This decision was made public by Transport Minister Anthony Loke, who stated that the approval was not recent, emphasizing that the tender was awarded even before Farhash became a shareholder.
Share Acquisition by Farhash

Datuk Farhash Wafa Salvador purchased his 15.09 per cent shares in HeiTech Padu in March 2024. Following this acquisition, Loke noted that no government contracts have been offered to HeiTech Padu to date, underscoring the independence of the contract award process from Farhash's shareholding.
Tender Process and Lowest Bid

HeiTech Padu was awarded the contract through an open tender system. The company emerged as the most suitable bidder, offering the lowest price of RM185,076,900 (excluding service tax), which was below the project's ceiling price of RM207,315,469. The other two participating companies had submitted higher bids, RM186,885,611.64 and RM199,513,872.
Contract Duration and Scope

The awarded contract is for a three-year period, a decision made to potentially reduce overall costs compared to annual renewals. This is a new contract, not an extension. An earlier contract extension for critical services, including preventive maintenance and cybersecurity, was granted temporarily while the new tender was being processed, costing RM54.32 million in total for both MySikap and Mainframe components.

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Was the RM190 million contract awarded before or after Farhash bought shares?

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