News

1. INTRODUCTION

The Company is pleased to announce that its wholly-owned subsidiary, Prestariang Systems Sdn Bhd (“PSSB”), today had received the Letter of Award dated 30 October 2015 from the Ministry of Higher Education (“MOHE”) for the supply of Autodesk software services aligned with the Industry Based Certification Program to public universities, polytechnics and community colleges under MOHE (“Supply of Autodesk Software Services”). The total contract price is RM20,000,000.00 over the course of two (2) years effective from the acceptance of the Letter of Award, from 2 November 2015 until 1 November 2017.

2. OBJECTIVE

The Supply of Autodesk Software Services by MOHE to PSSB is a continuous initiative since 2006, in line with the MOHE’s Higher Education Blueprint’s objectives and focuses on the following areas:-

i. Drive knowledge-intensive areas for high-skilled jobs and address the concerns of unemployment and underemployment;

ii. Empower the students, faculties and institutions with real-world tools, with widespread access to industry-standard technology and software that will help to improve education;

iii. Prepare graduates for a dynamic future by embedding critical knowledge and skills where learning will be personalized with expanded online and lifelong learning resources; and

iv. Strengthen the innovation ecosystem by encouraging greater integration and collaboration between industry and academia.

3. FINANCIAL EFFECTS

The Supply of Autodesk Software Services is expected to contribute positively to the future earnings and net assets per share of Prestariang Group.

The Supply of Autodesk Software Services 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, either direct or indirect in the Supply of Autodesk Software Services.

5. DIRECTORS' STATEMENT

The Board of Directors of Prestariang is of the opinion that the Supply of Autodesk Software Services is in the ordinary course of business and is in the best interests of the Company.

This announcement is dated 2 November 2015.