Media Relations


Prestariang rises 6.12% on meeting conditions for government concession
11 Apr 2018
Surin Murugiah
The Edge Markets

KUALA LUMPUR (Apr 11): Prestariang Bhd rose 6.12% in early trade today after the company said it has fulfilled all the conditions precedent of a concession agreement entered into with the Government of Malaysia to implement the Immigration Department’s Sistem Kawalan Imigresen Nasional (SKIN) or National Immigration Control System.

At 9.10am, Prestariang rose 9 sen to RM1.56 with 175,300 shares done.

The concession agreement was signed on July 18 last year, by Prestariang SKIN Sdn Bhd (PSKIN) — a wholly-owned unit of Prestariang's 70%-owned subsidiary, Prestariang Services Sdn Bhd (Pservices) — with the Home Affairs Ministry.

Prestariang was first announced as the main implementer of SKIN in November 2015 via a public private partnership using the build, operate, maintain and transfer (BOMT) method.

SKIN is a new border control system to replace the current Malaysian Immigration System or MyIMMs.

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