News

1. INTRODUCTION

The Board of Directors ("Board") of Prestariang is pleased to announce that today, it has resolved for Prestariang to undertake the restructuring of the Prestariang Group and its Business Activities effective from 1 March 2016 (hereinafter referred to as "Group Restructuring").

2. DETAILS OF THE GROUP RESTRUCTURING

The purpose of the Group Restructuring are as follows:-

1. To realign the business operations and activities;
2. To delegate and re-distribute the roles and responsibilities;
3. To re-designate the position titles of Group Chief Executive Officer ("CEO") and Group Chief Operating Officer ("COO") in accordance to the revised structure; and
4. To show clear demarcation of deliverables and main Key Performance Indicators strategically and operationally.

Following the Group Restructuring, Prestariang Group will be aligned to focus on the respective 3 business divisions, namely:-

1. Talent & Software Division
2. Technology & Services Division
3. Education Division

These business divisions will be headed by their respective CEO, reporting directly to the President/ Group CEO.

The key chief executives of the Group are as below:-

3. DIRECTORS’ STATEMENT

The Board is of the opinion that the Group Restructuring is in the best interest of Prestariang and will enhance overall operational efficiency of Prestariang Group.

This announcement is dated 25 February 2016.