PETALING JAYA: Prestariang Bhd, whose share price tumbled as much as 34.1% to a low of 30.5 sen, said its subsidiary Prestariang SKIN Sdn Bhd (PSKIN) has not received any notification from the government in relation to the Immigration Department’s national immigration control system (SKIN).
In a filing with Bursa Malaysia today, the company said 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.
Its shares closed 15 sen or 33% lower at 30.5 sen on 78.21 million shares changing hands.
