Prestariang unit bags RM24.3m contract to supply Microsoft software

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KUALA LUMPUR (Mar 11): Prestariang Bhd's wholly-owned subsidiary, Prestariang Systems Sdn Bhd (PSSB), has bagged a RM24.3 million contract to supply Microsoft software licences and related services to schools and colleges under the Education Ministry for three years, until March 9, 2018.

In a filing with Bursa Malaysia today, Prestariang (fundamental: 1.95; valuation: 0.3) said PSSB had received a letter of award dated March 9, 2015, from the ministry for the contract.

"The supply of Microsoft software and services is aligned with Prestariang’s core business activities in providing software licence distribution and management services," it said, adding the contract is expected to contribute positively towards the group's s financial year performance from 2015 to 2018.

“This is the second major contract for Prestariang for 2015, after the extension of the Microsoft Licensing Agreement (MLA), which makes us the sole Microsoft Licensing Solutions Partner (LSP) under MLA 2.0 for the government," said Prestariang chief executive officer Dr Abu Hasan Ismail in a statement today.

Prestariang shares closed 2 sen or 0.86% higher at RM2.34 today, bringing it to a market capitalisation of RM1.12 billion.

(Note: 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.)