News

1.       INTRODUCTION

The Board of Directors of Prestariang Berhad (“Prestariang” or “the Company”) is pleased to announce that Prestariang had on 28 March 2017 entered into a Heads of Agreement (“the Agreement”) with the following entities:-

1. Thales Communications & Security SAS (“TCS”); and
2. Thales Malaysia Sdn Bhd (“TM”),

(TCS and TM shall be collectively referred to as “Thales”) in respect of the proposed implementation of ‘Sistem Kawalan Imigresen Nasional’ (“SKIN”), an integrated technology platform to transform the core applications and infrastructure of the national immigration system.

2.       SALIENT DETAILS OF THE AGREEMENT

2.1     BACKGROUND

As announced by the Company on 18 November 2016, the Government of Malaysia via Ministry of Home Affairs (“Government”) has vide its letter dated 15 November 2016 confirmed that the Cabinet of Malaysia has approved the proposal submitted by Prestariang to implement SKIN by way of a public private partnership through build, operate, maintain and transfer method (“Project”).

Thales has extensive experience, proven track record and the requisite skills, technology and resources in providing and supplying integrated information technology and other solutions including expertise and capabilities in systems integration, high-end server technology and proven solution frameworks for integrated immigration and border security control and management for projects in similar size and nature and has expressed its intention to participate in the Project.

Thales and Prestariang (“the Parties”) have agreed to enter into the Agreement to define the salient terms of the memorandums of agreement between them (“MOA”).

2.2     OBJECTIVE

The objective of the Agreement is to set out the parameters for the Parties to further their common interest as follows:-

1. the participation of Thales in the Project;
2. the sharing of relevant information on a confidential basis between the Parties with the aim of identifying the needs and capabilities of both Parties in relation to the Project; and
3. to set out the general framework, working relationship, directions, work plan, future commitment, co-operation and/or collaboration in relation to the Project.

2.3     COLLABORATION

The Parties agree to collaborate and co-operate with each other to:

1. identify the scope of works and services of the Project including any related activities thereto for the build and deployment phase and the technical operation phase of the Project;
2. facilitate the preparation and/or development of the proposal(s) and documentation(s) for the Project or any part thereof including any revision, modification, amendment or supplement, thereto, as may be determined by Prestariang and agreed by Thales.

2.4     MEMORANDUMS OF AGREEMENT

The Parties agree to negotiate and finalise the MOA for the build and deployment phase and the technical operation phase respectively, subject to the finalisation and execution of the agreement to be entered between the Company or its approved special purpose vehicle (“SPV”) and the Government in respect of the Project.

The contract value of this collaboration shall be subject to the finalisation of the MOA as may be mutually agreed between the Parties.

 2.5    DURATION

The Agreement shall commence on 28 March 2017 and shall cease and terminate upon coming into force of the MOA or if the Parties cannot agree to the terms of the MOA within six (6) months from the date of the Agreement or such extended date(s) as may be mutually agreed between the Parties in writing, or unless terminated in accordance with the terms of the Agreement.

3.       EFFECTS ON FINANCIAL, SHARE CAPITAL AND SUBSTANTIAL SHAREHOLDERS’ SHAREHOLDINGS

The Agreement 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 Agreement.

5.       DIRECTORS’ STATEMENT

The Board of Directors of Prestariang is of the opinion that the Agreement is in the best interest of Prestariang Group.

The announcement is dated 28 March 2017.