News

1. INTRODUCTION

The Board of Directors of Prestariang Berhad (“Prestariang” or “the Company”) is pleased to announce that Prestariang had on 20 November 2015 received a letter of confirmation of approval in principle (Surat Pengesahan Persetujuan Secara Prinsip) from the Government of Malaysia (“Government”) via the Ministry of Home Affairs for the Company to implement ‘Sistem Kawalan & Imigresen Nasional’ (“SKIN Project” or “Project”), a comprehensive and integrated technology platform to modernize the core applications and infrastructure of the national immigration system with the objective to enhance the national border security (“the Letter”).

2. BACKGROUND

The Company has participated in a Value Management Lab (VMLab) session held on 23rd to 30th March 2015 whereby the Parties have agreed on the project scope and action plan for the SKIN Project, subject to the approval of the terms and conditions that are to be agreed by both parties.

3. EFFECTS ON SHARE CAPITAL AND SUBSTANTIAL SHAREHOLDERS’ SHAREHOLDINGS

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

4.  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 Letter.

5.  DIRECTORS’ STATEMENT

The Board of Directors of Prestariang is of the opinion that the SKIN Project is a new significant milestone for the Company and we look forward to the implementation of this Project.

The announcement is dated 20 November 2015.