KUALA LUMPUR (March 8): Prestariang Bhd inked a memorandum of understanding (MoU) with National Higher Education Fund Corp (PTPTN) for a student upskilling collaboration.

The upskilling trainings shall utilise EduCloud, an integrated education platform owned by Prestariang, as the digital talent platform to assist PTPTN to engage their student borrowers and other stakeholders to drive engagement and employability, said Prestariang in a stock exchange filing today.

Prestariang said EduCloud is a single services-based digital platform to support learning, engagement and innovation in education.

The group said the MoU expressed the intentions of both parties to collaborate together in relation to student engagement and employability, in particular for the management of digital ID, student borrowers engagement and related services. It also sets out the agreed parameters for the purposes of cooperation between both parties.

A definitive agreement will be finalised by April 30 this year, said Prestariang.

"Phase one of the collaboration will be through a pilot borrowers' employability programme called 'JobMatching PTPTN' targeted at upskilling current PTPTN borrowers to the job market through a 'Place and Train' model, based on terms to be mutually agreed in writing by the parties," it said.

Additionally, Prestariang said PTPTN authorises it to communicate and engage with their existing and targeted student borrowers to drive the success of the programme.

The MoU shall be terminated immediately upon the execution of the definitive agreement, or on Dec 31 this year, whichever is earlier.

Prestariang shares closed three sen or 1.91% lower at RM1.54 today, giving it a market capitalisation of RM742.74 million.