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BackApr 24, 2013
Type Announcement
Subject OTHERS
Description PRESTARIANG BERHAD ("Prestariang” or “Company”)
Memorandum of Agreement entered between GEMS Malaysia Sdn Bhd and Prestariang Systems Sdn Bhd, a wholly owned subsidiary of Prestariang
INTRODUCTION
The Company is pleased to announce that its wholly-owned subsidiary, Prestariang Systems Sdn Bhd (“PSSB”) had entered into a Memorandum of Agreement with GEMS Malaysia Sdn Bhd (“GMSB”) dated 24 April 2013 for the implementation of the Graduate Employability Management Scheme 2.0 – Oil and Gas Sector (“GEMS 2.0 – O&G Sector”) to provide training and certification to 250 university graduates for a period of (18) months at a total price of RM2,000,000.00.

INFORMATION ON THE PROGRAM

The focus of GEMS 2.0 - O&G Sector is to meet the aspiration of the Government for the supply of professionals to the oil and gas industry through specifically oriented skillset training.

GEMS 2.0 – O&G Sector will be managed by GMSB and implemented by PSSB in collaboration with Host Companies. The deliverables of GEMS 2.0 - O&G Sector will be in 4 phases as follows:-

Phase 1 – Identification of Curriculum with Host Companies
Phase 2 – Recruitment
Phase 3 – Program Delivery
Phase 4 – Employment

FINANCIAL EFFECTS

GEMS 2.0 – O&G Sector is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang Group.

GEMS 2.0 – O&G Sector 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 GEMS 2.0 – O&G Sector.

DIRECTORS’ STATEMENT

The Board of Directors of Prestariang is of the opinion that GEMS 2.0 – O&G Sector is in the ordinary course of business and of the best interest of Prestariang.

This announcement is dated 24 April 2013.

 

Announcement Info

Company Name PRESTARIANG BERHAD  
Stock Name PRESBHD    
Date Announced 24 Apr 2013  
Category General Announcement
Reference No CS-130424-46C81