1. INTRODUCTION
The Board of Directors of Prestariang is pleased to announce that its wholly-owned subsidiary, Prestariang Systems Sdn. Bhd. (“PSSB”) had on 17 January 2012 accepted a Letter of Award from the Ministry of Information, Communication and Culture (KPKK) for the implementation of the "1CITIZEN CERTIFICATION” program to provide “IC CITIZEN” training and certification program for a period of two (2) years from 1 January 2012 until 31 December 2013 at a total price of RM14,000,000.00 for 40,000 participants at RM350.00 per participant.
2. INFORMATION ON “1CITIZEN CERTIFICATION” PROGRAM
The “IC CITIZEN” training and certification program is a home-grown training and certification program designed to promote the appropriate use of technology particularly for today’s digital literacy requirements. The Company’s focus in developing its own Intellectual Property (IP) training and certification programs, has continued to generate new revenue stream.
This is the second contract for “1CITIZEN CERTIFICATION” program in Malaysia and the first award from the Ministry of Information Communications and Culture (KPKK). The first contract was announced on 22 August 2011 where PSSB had received a contract of RM28 million from Ministry of Higher Education (MoHE) for its 1CITIZEN program to be implemented for 80,000 students in all public and selected private higher learning institutions.
3. FINANCIAL EFFECTS
The “1CITIZEN CERTIFICATION” program for KPKK is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang Group.
The “1CITIZEN CERTICATION” program for KPKK will not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang.
4. DIRECTORS’ AND/OR MAJOR SHAREHOLDERS’ INTEREST
None of the Directors and/or major shareholders or any person connected to the Directors and/or major shareholders of Prestariang has any interest, direct or indirect, in the “1CITIZEN CERTICATION” Program for KPKK.
5. DIRECTORS’ STATEMENT
The Board of Directors of Prestariang is of the opinion that the “1CITIZEN CERTIFICATION” program for KPKK is the ordinary course of business and is in the best interests of Prestariang.
The Board of Directors of Prestariang is pleased to attach herewith a Press Release in conjunction with the above.
This announcement is dated 17 January 2012.
