News

1. INTRODUCTION

The Company is pleased to announce that Prestariang had on 8 March 2018 entered into a Memorandum of Understanding (“MOU”) with Perbadanan Tabung Pendidikan Tinggi Nasional (“PTPTN”),  with regards to cooperation and collaboration in relation to students engagement and employability; in particular for the management of digital ID, student borrowers engagement and related services.

(PTPTN and Prestariang shall hereinafter be collectively referred to as “Parties” and individually referred to as “Party”).

2.  INFORMATION

2.1 OBJECTIVES

The objectives of the MOU are to express the intentions of the Parties to collaborate together and to set out the key terms for the collaboration in relation to students engagement and employability; in particular for the management of digital ID, student borrowers engagement and related services as well as the agreed parameters for purposes of co-operation between the Parties.

2.2 JOINT COLLABORATION

2.2.1 The Parties agreed to enter into a collaboration as follows:

(i) Phase 1 of the collaboration will be through a pilot borrowers’ employability programme called “JobMatching PTPTN” (“the Programme”)  targetted at upskilling current PTPTN borrowers to the job market through “Place and Train” model based on terms to be mutually agree in writing by the Parties;

(ii) PTPTN authorises Prestariang to communicate and engage their existing and targeted student borrowers to drive the success of the Programme;

(iii) the upskilling trainings shall utilise EduCloud*, an Integrated Education Platform (IEP) owned by Prestariang  as the  digital talent platform to assist PTPTN to engage their student borrowers and other stakeholders to drive engagement and employability;

(collectively referred to as “Collaboration Tasks”).

2.2.2 In this connection, the Parties agree to co-operate and work together to set out the possible framework, working relationship, directions, work plan and/or future commitments in relation to the collaboration.   

2.2.3 The Parties  agree that commencement of concrete and finite negotiations on the working relationship of the collaboration, including the terms and conditions of the definitive legally binding agreement(s) between the Parties ("Definitive Agreement") be finalised by 30 April 2018.

2.3 DURATION

The MOU shall terminate immediately upon the execution of the Definitive Agreement or on 31 December 2018, whichever is earlier.

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

The MOU will not have any effect on the financial, 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 MOU.

5. ​DIRECTORS’ STATEMENT

The Board of Directors of Prestariang is of the opinion that the MOU will have a positive impact on the business of Prestariang, in particular to the promotion and implementation of EduCloud and of the best interest of Prestariang Group.

*Educloud is a Single Services-Based Digital Platform to support learning, engagement & innovation in education in Malaysia & ASEAN.

The announcement is dated 8 March 2018.

Please refer to the attached press release.