KUALA LUMPUR (Nov 4): Shares in Prestariang Bhd shot up 20.78% this morning after the technology and talent provider said it had bagged an estimated RM50 million contract from Menteri Besar Selangor (Incorporated) (MBI) to develop and implement the Selangor Kerjaya Program.

At the time of writing, the stock, which was among the top actively traded, rose eight sen to 46 sen, valuing it at RM325.38 million. The stock has climbed some 27% year-to-date (YTD).

The contract was given to Prestariang’s unit Prestariang Systems Sdn Bhd (PSSB). In a filing with Bursa Malaysia yesterday, the group said 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 residents in future.

The three-year contract period 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.