News

Memorandum Of Understanding

BackJan 31, 2013
Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description PRESTARIANG BERHAD ("Prestariang" or "the Company")
Collaboration Agreements entered into between Prestariang Education Sdn Bhd and Industry Partners; and
Memorandums of Understanding entered into between Universiti Malaysia of Computer Science and Engineering with Academic Partner and Industry Partners
INTRODUCTION
The Board of Directors of Prestariang is pleased to announce the following:-

(a) Prestariang Education Sdn Bhd (“PESB”), its wholly-owned subsidiary, had on 31 January 2013 entered into Collaboration Agreements (“the Agreements”) with each of the following entities:-
    (i) IBM Malaysia Sdn. Bhd. (“IBM”);
    (ii) Microsoft (Malaysia) Sdn. Bhd. (“Microsoft”);
    (iii) Dell Sales Malaysia Sdn. Bhd. (“Dell”); and
    (iv) International Council of E-Commerce Consultants (“EC Council”).
(b) Universiti Malaysia of Computer Science And Engineering” (“UniMy”), a tertiary education facility established under PESB had on 31 January 2013 entered into Memorandums of Understanding (“MOUs”) with each of the following entities:-
    (i) University of Melbourne (Melbourne School of Engineering) (“UMSSE”);
    (ii) Huawei Sdn. Bhd. (“Huawei”);
    (iii) Autodesk Asia Pte. Ltd. (“Autodesk”);
    (iv) Multimedia Development Corporation Sdn. Bhd. (“MDeC”);
    (v) Kumpulan Modal Perdana Sdn. Bhd. (“KMP”); and
    (vi) NanoMalaysia Berhad (“NanoMalaysia”).

    (UMSSE shall hereinafter referred to as the “Academic Partner” and IBM, Microsoft, Dell, EC Council, Huawei, Autodesk, MDeC, KMP and NanoMalaysia shall collectively be referred to as “Industry Partners”).
OBJECTIVE OF COLLABORATIONS

The objectives of the Agreements and the MOUs entered between the parties are, inter alia, for the following purposes:-

(a) to support UniMy’s aspiration to develop a tertiary education facility focusing on computer science and engineering. The collaboration with the Academic Partner and Industry Partners envisages UniMy implementing under-graduate and graduate programmes modelled along the lines of the prestigious computer science and engineering industries coupled with industry inputs; and

(b) the collaboration with the Academic Partner and Industry Partners is expected to bring mutual benefits to the parties of the Agreements and MOUs.

FINANCIAL EFFECTS

The Agreements and MOUs are part of the future plan of Prestariang to improve and benchmark its standard which would bring the effect of contributing positively to the future earnings, net assets per share and gearing of Prestariang Group.

Such collaborations 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 Agreements and MOUs.

DIRECTORS’ STATEMENT

The Board of Directors of Prestariang is of the opinion that the Agreements and MOUs are in the ordinary course of business and of the best interest of Prestariang Group.

The anouncement is dated 31 January 2013.

 

Announcement Info

Company Name PRESTARIANG BERHAD  
Stock Name PRESBHD    
Date Announced 31 Jan 2013  
Category General Announcement
Reference No CS-130131-A3EED