PETALING JAYA: Prestariang Bhd’s wholly owned subsidiary, Prestariang Systems Sdn Bhd, has secured a one-year extension for its contract with the Education Ministry to supply Microsoft software licences to public higher education institutions in the country.
The information and communications technology firm said in a filing with Bursa Malaysia yesterday that the extension commenced from July 3, 2018 to July 2 next year, at a total value of RM11.63mil.
“Prestariang Systems has received a letter of award dated Sept 25 from the Education Ministry on the extension of the said contract for the supply of Microsoft software licences under the ‘Managing University Software as an Enterprise’ programme to all public higher education institutions, including universities, polytechnics and community colleges under the Higher Education Ministry, currently known as the Education Ministry.” it said.
The contract extension is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang.
The group pointed out that the extension would not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang.
None of Prestariang’s directors, substantial shareholders and persons connected to them have any interest in the extension.
“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 interest of the company,” said the group.