Monday, 17 July 2017 | MYT 10:58 PM
Prestariang to make material announcement
KUALA LUMPUR: Technology company Prestariang Bhd has requested for a suspension in the trading of its securities from 9am on Tuesday pending a material announcement.
It has sent out media invitations for a "major business update" briefing on Wednesday to provide an update on “its current core business, impact of its major business development and forward plans of its transformational business.” No further information was disclosed on what the briefing would be about.
Prestariang has inked several memoranda of understanding that are pending definitive agreements, such as that signed in January to form a strategic joint collaboration with Alibaba.com Singapore E-Commerce Pte Ltd and Conversant Solutions Pte Ltd to create an integrated education platform known as EduCloud.
Prestariang recently said it had issued notices to terminate two separate MoUs (not the one with Alibaba.com and Conversant).
Among Prestariang’s most high-profile projects is a 15-year concession to modernise and maintain the national immigration and border security system (SKIN) through digital technologies.
Prestariang has signed a heads of agreement Thales Communications & Security SAS and Thales Malaysia Sdn Bhd to collaborate on the project, but not the memorandum of agreement spelling out the terms.