News | Awantec

1. INTRODUCTION

The Company wishes to announce that on 13 July 2017, the Company had acquired 70 ordinary shares in PServices, representing 70% of the total issued share capital of PServices, at a total consideration of RM70.00 from Dr. Abu Hasan Bin Ismail (“Acquisition”). Subsequent to the Acquisition, PServices became a subsidiary of PRESBHD.

2. INFORMATION ON PSERVICES

PServices was incorporated on 18 December 2014 under the Companies Act with total issued share capital of RM100.00. PServices is currently a dormant company and has two wholly-owned subsidiaries, Prestariang SKIN Sdn Bhd (“PSKIN”) and Prestariang Tech Services Sdn Bhd (“PTech”). PSKIN and PTech are currently dormant.

3. RATIONALE FOR THE ACQUISITION

The Acquisition will enable PRESBHD to have direct interest in the said companies.

PSKIN will be the special purpose vehicle to undertake the implementation of ‘Sistem Kawalan Imigresen Nasional’ (“SKIN”), a comprehensive and integrated technology platform to modernise the core applications and infrastructure of the national immigration system. Please refer to our announcements dated 20 November 2015, 24 November 2015, 26 November 2015 and 18 November 2016 in respect of SKIN for further information.

PTech’s proposed business activity will be to carry on the business of providing consultancy, advisory, research & development, human resource and other outsourcing services relating to ICT, security related system, network infrastructure and data/system analytics.

4. FINANCIAL EFFECTS

The Acquisition will have no material effect on the earnings per share or net assets of PRESBHD.

5. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM

Save for Dr Abu Hasan bin Ismail (who is a director and substantial shareholder of PRESBHD and also a substantial shareholder of PServices), none of the other directors and/or major shareholders of PRESBHD and/or persons connected to them has any interest, direct or indirect, in the Acquisition.

6. STATEMENT BY THE BOARD OF DIRECTORS

The Board of Directors of PRESBHD is of the opinion that the Acquisition is in the best interest of PRESBHD Group.

This announcement is dated 13 July 2017.

Type	Announcement
Subject	OTHERS
Description	PRESTARIANG BERHAD ("PRESBHD OR THE COMPANY") - ACQUISITION OF 70% EQUITY INTEREST IN PRESTARIANG SERVICES SDN BHD ("PSERVICES")
1. INTRODUCTION The Company wishes to announce that on 13 July 2017, the Company had acquired 70 ordinary shares in PServices, representing 70% of the total issued share capital of PServices, at a total consideration of RM70.00 from Dr. Abu Hasan Bin Ismail (“Acquisition”). Subsequent to the Acquisition, PServices became a subsidiary of PRESBHD. 2. INFORMATION ON PSERVICES PServices was incorporated on 18 December 2014 under the Companies Act with total issued share capital of RM100.00. PServices is currently a dormant company and has two wholly-owned subsidiaries, Prestariang SKIN Sdn Bhd (“PSKIN”) and Prestariang Tech Services Sdn Bhd (“PTech”). PSKIN and PTech are currently dormant. 3. RATIONALE FOR THE ACQUISITION The Acquisition will enable PRESBHD to have direct interest in the said companies. PSKIN will be the special purpose vehicle to undertake the implementation of ‘Sistem Kawalan Imigresen Nasional’ (“SKIN”), a comprehensive and integrated technology platform to modernise the core applications and infrastructure of the national immigration system. Please refer to our announcements dated 20 November 2015, 24 November 2015, 26 November 2015 and 18 November 2016 in respect of SKIN for further information. PTech’s proposed business activity will be to carry on the business of providing consultancy, advisory, research & development, human resource and other outsourcing services relating to ICT, security related system, network infrastructure and data/system analytics. 4. FINANCIAL EFFECTS The Acquisition will have no material effect on the earnings per share or net assets of PRESBHD. 5. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM Save for Dr Abu Hasan bin Ismail (who is a director and substantial shareholder of PRESBHD and also a substantial shareholder of PServices), none of the other directors and/or major shareholders of PRESBHD and/or persons connected to them has any interest, direct or indirect, in the Acquisition. 6. STATEMENT BY THE BOARD OF DIRECTORS The Board of Directors of PRESBHD is of the opinion that the Acquisition is in the best interest of PRESBHD Group. This announcement is dated 13 July 2017.

Company Name	PRESTARIANG BERHAD
Stock Name	PRESBHD
Date Announced	13 Jul 2017
Category	General Announcement for PLC
Reference Number	GA1-11072017-00101

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