Prestariang active, tumbles 6.59% after SKIN project cancelled

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KUALA LUMPUR (Dec 10): Shares in Prestariang Bhd fell 6.69% at noon today after the Cabinet decided to review the jewel in the company's crown — the RM3.5 billion Sistem Kawalan Imigresen Nasional (SKIN) project.

At 12.15pm, Prestariang fell 3 sen to 42.5 sen with 9.37 million shares traded.

Bernama had reported Home Minister Tan Sri Muhyiddin Yassin as saying the Cabinet had agreed that the SKIN project be cancelled and replaced with a more comprehensive new system.