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Wednesday, December 19, 2012

Prestariang - Making Its Mark in O&G Training (ext.OSK)

Prestariang  announced  yesterday  that  it  has  received  a  letter  of  approval  from  the Ministry of Finance to implement the Professional Skill Set for Oil & Gas (O&G) Industry Programme. Under this programme, the company will provide training and certification to 360  university  graduates,  diploma  and  certificate  holders  for  a  period  of  three  months, for a total contract sum of RM4.8m.

BUY.  We are pleasantly surprised with the company’s maiden venture into O&G-related training. We also  believe  this will  mark  the  beginning  of  a  slew  of  O&G-related  training and certification contracts as Prestariang strives to expand its presence in this booming sector  by  leveraging  on  the  Government’s  ultimate  ambition  to  fast-track  the development  of  the  O&G  industry,  as  well  as  transform  the country  into  a  high-income nation. Maintain BUY, with our FV unchanged at RM2.15, based on a 10x FY13 PER.

Smartbiz: Presbhd'price fell as low as 1.09 after an adjustment of a 3sen Dividend. The price has eventually picked up to 1.16 yesterday to close the gape created by the adjustment. Based on charts, all indicators are pointing upwards and price might move higher to test its previous peak at 1.26. In view of its unique business nature, this should be a potential counter good for mid-term holding.

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