Thursday 28 Mar 2024
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KUALA LUMPUR (Mar 27): Prestariang Bhd has won a RM29.9 million contract from the Inland Revenue Board (IRB) to provide Microsoft software licences and value-added services for a period of three years.

In a filing with Bursa Malaysia today, Prestariang (fundamental: 1.95; valuation: 0.3) said its wholly-owned subsidiary, Prestariang Systems Sdn Bhd, had received the letter of award (LOA) from IRB.

The company will provide the services under the master licensing agreement (MLA) 2.0 for LHDNM, effective from March 1 this year to Feb 28, 2018, for RM29.9 million, which does not include the goods and services tax.

The Ministry of Finance (MOF) had in January this year appointed Prestariang to be the licensing solution partner to provide Microsoft software under the MLA 2.0 to all government agencies in Malaysia.

The latest contract is expected to have a positive effect on Prestariang’s net tangible assets and earnings for the financial year ending Dec 31, 2015, but it will be subject to new orders and renewal request from government agencies for Microsoft software, product and services.

Currently, Prestariang offers over 60 globally recognised certification courses nationwide in partnership with companies including Microsoft, Autodesk, IBM and Oracle.

Shares of Prestariang gained 2 sen or 0.8% to settle at its all-time high of RM2.52 today, giving it a market capitalisation of RM1.21 billion. Year-to-date, the counter has risen RM1.08 or 75%.

(Notes: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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