News

INTRODUCTION
The Company is pleased to announce that its wholly-owned subsidiary, Prestariang Systems Sdn Bhd (“PSSB”) today had received the Approval Letter dated 17 December 2012 from the Ministry of Finance ("MOF") for the implementation of Professional Skill Set for Oil & Gas Industry Program (“Program”) to provide training and certification to 360 university graduates, diploma and certificate holders for a period of 3 months at a total price of RM4,800,000.00.

INFORMATION ON THE PROGRAM

Prestariang had designed and developed recognised oil and gas industry based professional training and certification program. The focus of the Program is to meet the aspirations of the Government for the supply of professionals in the oil and gas industry through specifically orientated skillset training.

The Program will be conducted by Prestariang in collaboration with the industry partners and professional certified trainers.

FINANCIAL EFFECTS

The Program is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang Group.

The Program will not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang.

DIRECTORS’ AND/OR SUBSTANTIAL SHAREHOLDERS’ INTEREST

None of the Directors and/or substantial shareholders or any person connected to the Directors and/or substantial shareholders of Prestariang has any interest, either direct or indirect in the Program.

DIRECTORS’ STATEMENT

The Board of Directors of Prestariang is of the opinion that the Program is in the ordinary course of business and of the best interest of Prestariang.

This announcement is dated 18 December 2012.