News

PRESTARIANG BERHAD (“Prestariang” or “the Company”) – Extension of contract with the Ministry of Education (“MOE”) for the supply of Microsoft software licenses to public higher education institutions in Malaysia by the wholly-owned subsidiary of Prestariang, Prestariang Systems Sdn Bhd (“PSSB”) under the “Managing University Software as an Enterprise” (“MUSE”) programme

1. INTRODUCTION

Reference is made to the Company's announcements dated 2 August 2017, 26 June 2015 and 23 August 2011 respectively, wherein the Company’s wholly-owned subsidiary, PSSB had on 23 August 2011 entered into an agreement with the Government, represented by the Ministry of Higher Education (“MOHE”) in relation to the MUSE programme (“the said Contract”).

The Company wishes to inform that PSSB has received a letter of award dated 25 September 2018 from the MOE on the extension of the said Contract for the supply of Microsoft software licenses under the MUSE programme to all public higher education institutions including universities, polytechnics and community colleges under the Ministry of Higher Education (currently MOE). The extension is for a period of one (1) year commencing from 3 July 2018 until 2 July 2019 at a total value of RM11,627,070.97 (“the Extension of Contract”).

2. FINANCIAL EFFECTS

The Extension of Contract is expected to contribute positively to the future earnings, net assets per share 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 the Company.

 This announcement is dated 1 October 2018.