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BackNov 22, 2017
Type Announcement
Subject OTHERS
Description

PRESTARIANG BERHAD (PRESTARIANG OR THE COMPANY) - LETTER OF AWARD FROM MINISTRY OF HIGHER EDUCATION

1. INTRODUCTION

Prestariang Berhad (“Prestariang” or “Company”) is pleased to announce that Prestariang Systems Sdn Bhd (“PSSB”), a wholly-owned subsidiary of the Company, had on today received a Letter of Award dated 21 November 2017 (“LOA”) from the Ministry of Higher Education (“MOHE”) for the supply of software licenses and related value-added services of Adobe Creative Cloud Software and Services to the MOHE and its agencies, and to all public universities, polytechnics and community colleges. (“IPTA”) (“Supply of Adobe Cloud Software and Services”). With this award, the Company will be able to expand its software business offering to a larger customer base.

The total contract price is RM13,308,300 over the course of three (3) years effective from the acceptance of the LOA, from 22 November 2017 until 21 November 2020. The price includes goods & services tax.

2. INFORMATION ON SUPPLY OF ADOBE CREATIVE CLOUD SOFTWARE AND SERVICES

In line with the aspiration of MOHE’s Higher Education Blueprint, continuous initiatives are introduced in promoting the creativity and innovation among students and academia within the higher education ecosystems.

Together with Adobe Systems Software Ireland Limited (“Adobe”), PSSB develop programs for academics and students offered through a variety of creative software and program development competencies such as international training, global digital creative contest, and Adobe Creative Cloud software packages for institutions education through the Enterprise Term License Agreement (“ETLA”) program.

The Supply of Adobe Creative Cloud Software and Services under ETLA program will benefit to the MOHE and IPTAs in the following aspects:-

i.Government Central Procurement for Adobe Creative Cloud software and services will reduce the cost associated to MOHE and IPTA procurements;

ii.Address the license compliance issue by enforcing unlimited installation of authentic software on all machines owned by MOHE and all IPTA, and extended to staff home use. This will reduce the issue on pirate software among the IPTA;

iii.Develop global benchmarked curriculum to provide teaching and learning infrastructure with state-of-the art technology. This will empower the students, faculties and institutions with real-world tools, with widespread access to industry-standard technology and software that will help to foster creativity and innovation; and

iv.Internationalization through collaboration with Adobe. ETLA program will strengthen the innovation ecosystem by encouraging greater integration and collaboration between global industry partners and academia.

3. FINANCIAL EFFECT

The Supply of Adobe Creative Cloud Software and Services is expected to contribute positively to the future earnings, net assets per share and gearing of Prestariang Group.

The Supply of Adobe Creative Cloud Software and Services will not have any effect on the share capital and substantial shareholders’ shareholding of Prestariang.

4. RISK FACTORS

The Supply of Adobe Creative Cloud Software and Services will be subjected to the usual project risks. However, Company will take the necessary steps to minimise or mitigate any risks that may arise as and when it occurs.

5. DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTEREST

None of the Directors and/or major shareholders or any person connected to the Directors and/or major shareholders of Prestariang has any interest, either direct or indirect in the Supply of Adobe Creative Cloud Software and Services.

6. DIRECTORS' STATEMENT

The Board of Directors of Prestariang is of the opinion that the Supply of Adobe Creative Cloud Software and Services is in the ordinary course of business and is in the best interests of the Company.

 

This announcement is dated 22 November 2017.





Announcement Info

Company Name PRESTARIANG BERHAD
Stock Name PRESBHD
Date Announced 22 Nov 2017
Category General Announcement for PLC
Reference Number GA1-22112017-00024