Monday, January 26, 2015

Prestariang ... MLA, Supply Manpower, Operate UM Course.

MLA To Provide MSN software To All Government Agencies …

Prestariang Bhd will provide Microsoft software under a master licensing agreement (MLA) to all government agencies in Malaysia. Its unit Prestariang Systems Sdn Bhd had received a letter of award he Ministry of Finance to be the Microsoft licensing solution partner.

Prestariang will provide Microsoft software under the MLA 2.0 over three years effective from Feb 1, 2015 until Jan 31, 2018.

MLA is an initiative by MoF under the government’s strategic ICT thrust.

The focus of MLA 2.0 is to provide a licensing framework to better manage the procurement and utilisation of software license, streamlined administration and the budgeting of software procurement.

The objective is to enable a Standard Operating Environment (SOE) to be adopted which facilitates Microsoft software procurement, usage, maintenance, support and management by all government agencies.

MOU With MIE To Suply Manpower To O&G Industry …

Earlier Prestariang Bhd has also signed a memorandum of understanding (MOU) with MIE Corporate Holdings Sdn Bhd to form a joint venture company (JVCo) for the supply of manpower - local and foreign - to the oil and gas (O&G) industry, including for the Refinery and Petrochemicals Integrated Development (RAPID) Project in Pengerang, Johor.

Prestariang will take a 51% stake in the proposed JVCo while MIE will hold the remaining 49%.

The proposed JVCo will enable both parties to establish a scalable and profitable position in providing qualified and certified manpower solutions to the O&G industry. This venture will enhance Prestariang’s growth prospects in providing various professional and vocational courses for upskilling and reskilling of human capital in meeting the growing demand of the industry.

MIE Corp, along with its partners, had in September 2014 bagged a USD1.3 billion contract to build a refinery unit on a 6,242-acre RAPID site.

MIE Corp can absorb locally-trained manpower as well as source for foreign skilled manpower for its O&G and related industries’ projects.

When the project is off the ground, it would require mass acquisition of certified and skilled manpower. Prestariang is already established in acquiring, training, skilling, re-skilling, up-skilling, placing and managing local manpower for the O&G and ICT [information and communication technology] industries.

Prestariang expects the MOU to “contribute positively” towards its growth plan.

Operates UM of Computer Science & Engineering Course …

Prestariang operates University Malaysia of Computer Science & Engineering.

There have been slight delays in the potential collaboration of its University Malaysia of Computer Sciensce and Engineering with a local education centric partner. This tie up is crucial in helping to boost enrolment numbers at the university.

It was reported in Oct 2014 that should there be further delays, there will be more downside risks to its FY2015 earnings potential as earnings are currently (Oct 2014) projecting for UNIMY to return to the black by 2015.

Utilization Of Private Placement Proceeds …

The management had remained tight lipped on the utilization of its concluded placement exercise, which raised some rm70 million. This will likely be used to bring in a new recurring earnings stream to the company, given the management’s aim of beefing up its recurring income base. Expect more details to be unveiled in the 1QFY2015.

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