The NIISE project to be awarded soon? Will it be Thetha Edge, DNeX or HeiTech Padu?

Malaysia's economy has been growing by leaps and bounds for the past several decades.

As the country progresses, naturally it would want to beef up it's borders and immigration control systems.

To manage this gargantuan task of migration activities at its frontiers, the government has embarked on the National Immigratiom Information System or the NIISE project.

It is understood that three companies have been shortlisted and the winning contender will be announced soon.

They are Thetha Edge Berhad, Dagang Nexchange Berhad (DNeX) and HeiTech Padu Berhad.

But out of the three firms, which company is most qualified for the job?

What is the NIISE project?

To recap, the NIISE project was formerly known as Sistem Kawalan Imigresen Nasional launched in 2017.

The project was initially awarded to Prestariang Berhad (now Awanbiru Resources Berhad) before it was terminated by the then Pakatan Harapan government as it was deemed too expensive at over RM3 billion.

Fast forward,  project was then revived and subsequently awarded to Iris Corp which also faltered and its contract was terminated in August 2023.

The pared down contract at RM1.1 billion involves the integration of data from 13 modules of the existing border control system involving the Home Ministry and the Immigration Department.

Does Thetha Edge has what it takes?

Theta Edge has yet to secure big jobs but its share price has been rallying for the past several months.

The small-cap company has been associated with government contracts worth billions of ringgit. 

It has yet to announce the securing of jobs, though.

So far this year, Theta Edge’s share price has soared 75 percent to RM1.20 valuing the group at RM141.6 million. 

Many are wondering what caused the powerful rally, as Theta Edge has no new contracts in hand.

Lembaga Tabung Haji is its largest shareholder, with a 27.28 percent stake.

In terms of earnings, Theta Edge has little to shout about. It made RM9.58 million in net profit in the financial year ended December 31, 2023.

The question now is does Theta Edge has the required technical capacity and financial resources to undertake these public projects.

Theta was recently awarded a RM673.8 million contract in developing IOT (internet of things) technology for smart business in Ampang Jaya.

Can Thetha Edge afford another mega project in terms of resources and does it possess the financial capability?

Can DNeX deliver?

DNeX is a RM1.09 billion company delving  in technology, IT and energy company.

The Edge Weekly reported the firm has been operating the National Single Window which includes providing e-services for trade facilitation.

As at end March this year, the firm has RM342.2 million cash.

Interestingly, Thetha Edge's second largest shareholder is Threadstone Capital with an equity stake of 13.56 percent owned by Zainal Abidin Jalil, a former substantial shareholder of DNeX. Can DNeX bag the NIISE job?

Can HeiTech live up to its name?

HeiTech is no stranger to the country's ICT landscape having managed various government ICT infrastructure.

HeiTech has over 820 clients and has expanded its offerings to smart parking systems, payment gateways as well as smart applications for local councils, cooperatives, teaching portals and so many more.

Based on past track records, Heitech has the necessary know-how to implement government projects.

Is HeiTech destined for the contract?

Malaysia must not repeat the sins of its fathers

The company which handles a mega project such as NIISE must have have the capability, resources, experience and financial backing.

The winning company must have a track record in managing mission critical security projects involving the sovereignty of the country. It cannot afford to fail.

In the past, some Malaysian companies and government linked companies paid the price when projects were awarded to cronies or politicians who knew nothing about the business.

The government must not repeat the folly and risk the country's security and sovereignty. - DagangNews.com