Thursday, May 15, 2014


Its catalysts include news flows from the O&G sector and the improvement in Prestariang’s university student numbers which will catalyse a re-rating of Prestariang's share price.

It had entered into a MOU with YPJ Holdings SB, the investment arm of the Johor Education Foundation (JEF) to form a joint venture to establish PAM in Johor. This O&G academy will provide upskilling and training for those aged between 17 and 25 in O&G sector skills like welding, pipefitting and fabrication. Prestariang will own 70% in the JV with JEF holding the remaining 30%.

This was in line with the company’s goal of becoming a regional training and certification player for the O&G sector.

There is a gap to be filled in terms of skilled workers, particularly for the upcoming refinery and petrochemicals integrated development (RAPID) project in Johor.

JEF will help to secure the facilities to conduct the programme and estimates that Prestariang will have to fork out an initial outlay of less than RM1 million for the setting up of the course materials.

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