Prestariang to collaborate with Dell, appoints INCS as strategic technology partner for SKIN project

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KUALA LUMPUR (Dec 5): Prestariang Bhd will collaborate with Dell Global Business Center Sdn Bhd on the implementation of Sistem Kawalan Imigresen Nasional (SKIN) project. It has also appointed In Continu Et Services (INCS) as its strategic technology partner to perform the works and services on the project.

According to a filing with Bursa Malaysia today, Prestariang SKIN Sdn Bhd (PSKIN), which is a wholly-owned subsidiary of Prestrariang Services Sdn Bhd, which in turn is a subsidiary of Prestariang, has entered into an agreement with Dell.

Both parties have agreed to collaborate and co-operate with each other on a confidential basis to mutually agree on the workshare, scope of works and price. A subcontract agreement shall be entered between the parties.

PSKIN will furnish Dell all applicable documents concerning the project and workshare while Dell will prepare those technical portions of the proposal relating to, and perform the work entailed in the areas which are to be scoped out separately and mutually agreed between parties.

In a separate filing, Prestariang announced that Prestariang Tech Services Sdn Bhd (PTECH) has entered into a Memorandum of Agreement (MoA) for the development phase with INCS, a subsidiary of Imprimerie Nationale SA (IN), appointing INCS as its strategic technology partner to perform the works and services as more particularly described therein toward the implementation of SKIN upon the terms and subject to conditions.

In conjunction with the MoA for the development phase with INCS, PTECH also signed a letter of intent (LOI) with INCS to appoint INCS as its service provider to provide onshore and offshore maintenance services and to define the salient terms of the conditional MoA for the maintenance services phase.

Prestariang was granted the right and authority to undertake the planning, design, financing, development, customisation, supply, delivery, installation, configuration, integration, interfacing, testing and commissioning of SKIN, and to carry out the maintenance services.

It was a RM3.5 billion concession agreement with the Home Affairs Ministry for a period of 15 years.

SKIN is a government-led border transformation programme to develop a comprehensive and integrated technology platform to modernize the core applications and infrastructure of the national immigration system with the objective of enhancing the national border security.

As at closing, Prestariang’s share price slipped by 1.41% to RM1.40 with about 738,000 shares changing hands, giving it a market capitalisation of RM675.2 million. At current level, the stock is trading at a trailing P/E of 45.3 times.