News

1. INTRODUCTION

Reference is made to the Company's announcement dated 23 January 2015 and 26 January 2015 respectively, wherein its wholly-owned subsidiary, Prestariang Systems Sdn Bhd (“PSSB”) had received the Letter of Award (“LOA”) dated 21 January 2015 from the Ministry of Finance (“MOF”) to appoint PSSB as the Microsoft Licensing Solutions Provider (“LSP”) for the supply of Microsoft software licences, products and services under MLA 2.0 to all Government Agencies in Malaysia.

Pursuant thereto, PSSB had on 9 June 2015 entered into an agreement under MLA 2.0 with the Government, represented by MOF for over the course of three (3) years effective from 1 February 2015 until 31 January 2018. The MLA 2.0 is a centralised procurement contract which allows all government agencies to purchase Microsoft software licences, products and services through PSSB.

The Company wishes to inform that today, PSSB had received a LOA dated 29 January 2018 from MOF for the extension of Contract to supply of Microsoft software licences, products and services under the MLA 3.0 to all Government Agencies and Institut Latihan Awam in Malaysia. The extension of Contract is for a period of three (3) years commencing from 1 February 2018 until 31 January 2021 at an estimated total value of RM222,600,000/-. The Extension of Contract under MLA 3.0 is an enhancement of MLA 2.0 that includes the Institut Latihan Awam as our new customer base with new added scope of services.

2. FINANCIAL EFFECTS

The Extension of Contract is expected to contribute positively to the future earnings, net tangible assets and gearing of Prestariang Group. The Extension of Contract will not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang.

3. 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 above Extension of Contract.

4. DIRECTORS' STATEMENT

The Board of Directors of Prestariang is of the opinion that the Extension of Contract is in the ordinary course of business and is in the best interests of Prestariang Group.

This announcement is made to attach the Press Release in relation to the above.

 This announcement is dated 29 January 2018.