PETALING JAYA: Prestariang Bhd’s share price continued to slide this morning, falling as much as 9.83% to 27.5 sen after saying that it was not notified by the government on the cancellation of the Immigration Department’s national immigration control system (SKIN).
At 11.20am, Prestariang which was the second most active counter of the day, was trading at 29 sen with 30.86million shares done.
Yesterday, its shares closed 15 sen or 33% lower at 30.5 sen on 78.21 million shares changing hands.
In a filing with Bursa Malaysia yesterday, the company said its subsidiary Prestariang SKIN Sdn Bhd (PSKIN) is not in default of the concession agreement and has not received any notice of default from the government.
The clarification was made in response to a report by a local daily quoting Home Minister Tan Sri Muhyiddin Yassin as saying that the RM3.5 billion SKIN project has been cancelled in order to make way for a new system.
Prestariang said PSKIN will seek clarification from the government on the matter and will make the necessary announcement on any updates.
