KUALA LUMPUR (Nov 3): Prestariang Bhd’s wholly-owned subsidiary Prestariang Systems Sdn Bhd (PSSB) has bagged a contract worth an estimated RM50 million from Menteri Besar Selangor (Pemerbadanan) (MBI) to develop and implement the Selangor Kerjaya Program.

According to Prestariang's filing with the local bourse today, the job involves the provision of skills training and job placement for 10,000 Malaysians who reside in Selangor or have graduated from learning institutions in the state.

Under the programme, PSSB will also provide the Selangor state government with analytics and intelligence that will improve employment opportunities for its residents in future.

The three-year contract started on Nov 1, 2020.

The estimated contract value is based on the agreed work programme, said Prestariang. The actual value will depend on the total number of candidates successfully trained and placed.

“The said contract is a major win for Prestariang Group as it represents the first significant project for the group in this space and provides a new platform for Prestariang to venture deeper into the talent and employability industry,” said Prestariang president and group chief executive Dr Abu Hasan Ismail, in a separate statement today.

“This will supplement Prestariang’s existing core business of technology and licensing and open new opportunities for the group to explore potential recurring income growth,” he added.

“We remain confident that our offering of holistic talent services that includes recruitment, training, placement and talent management using technology such as talent profiling and matching will give us an edge in this space,” the company added.

Shares of Prestariang closed one sen or 2.67% higher at 38.5 sen today, valuing it at RM272.99 million. Some 9.53 million shares were traded.