Prestariang gets 2-year contract extension worth RM20m

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KUALA LUMPUR (June 26): Prestariang Bhd has received a two-year extension on its contract for the distribution and management of Microsoft software licenses to public higher education institutions in Malaysia, worth RM20 million.

In a filing with Bursa Malaysia today, Prestariang said its wholly-owned unit Prestariang Systems Sdn Bhd (PSSB) received a letter of award dated June 25, 2015, from the Ministry of Education for the said contract.

It said the extension will run from July 3, 2015 until July 2, 2017.

To recap, PSSB first bagged the job from the then Ministry of Higher Education (MOHE) in August 2011 to supply licensed software and related value-add services consisting of Microsoft software and servicers to all public institutions of higher learning in Malaysia under the “Managing University Software as an Enterprise” (MUSE) programme. The original terms of contract was for four years.

“The extension of contract is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang group. The extension of contract will not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang,” said Prestariang in its filing today.

Prestariang closed 2 sen or 0.76% higher at RM2.65, giving it a market capitalisation of RM1.27 billion.

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