Tuesday, January 29, 2013
Written in The Star, for good reasons.
IT'S been 18 months since Prestariang Bhd was listed.
This provider of information communication technology (ICT) training, certification and software still has big plans in the offing with the opening of its boutique university taking centre stage for now.
Mooted by the Government, the university which will be launched on Jan 31, will provide the company a recurring income on top of its current businesses which include the provision of training, certification and software to clients such as government ministries and local universities, which are among its biggest clients.
It works with top global IT companies in the provision of such services.
Currently, 70% of Prestariang's business comes from the public sector. It enjoys a gross margin of about 40%, superior to that of its other ICT and eduction peers largely due to its ability to do business on a large-scale basis, according to analysts.
Analysts have said that Prestariang, which posted a net profit of RM10.2mil for the third quarter ended Sept 30, is in a sweet spot as the Economic Transformation Programme (ETP) continues to unfold itself.
A lot of the objectives set out in the ETP will require much reskilling and upskilling, which is where the company's expertise lies.
The stock disappointed many when it fell 18% lower on the first day of its trading.
The downtrend persisted for a while after that with the share price dipping to as low as 52 sen. It has since recovered to RM1.14 but is still trading at a price earning ratio that is half of its competitors.
Do read and take your own plunge. Good luck.