Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 28): Prestariang Bhd has scrapped plans to create an integrated education platform (IEP) with Alibaba Cloud, the cloud computing arm of China's Alibaba Group, and Singapore-based Conversant Solutions Pte Ltd.

On Jan 12 last year, the three companies had entered into a memorandum of understanding (MoU) to form a strategic joint collaboration to create the IEP to drive innovation ecosystem for the education sector including education-related activities and services in Malaysia.

In a filing with Bursa Malaysia today, Prestariang said the MoU has since lapsed, but it will continue to explore mutually beneficial business relationship with the parties in the education market.

To be known as EduCloud, it was supposed to be a single platform to deliver all cloud-based activities linked to education and related services including campus management, teaching and learning, entertainment and digital payment.

The tripartite collaboration was to leverage each party's strengths, including Alibaba Cloud's cloud computing capabilities, Conversant's digital media enablement and Prestariang's talent and education customer base and deployment expertise.

Prestariang shares closed down 1.5 sen or 2.61% at 56 sen today, with 13.31 million shares done, bringing a market capitalisation of RM270.09 million.

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