Prestariang Berhad (PRESBHD, 5204) was incorporated in 2003 as an Information and Communication Technology Services company, focussing on professional training and certification.
Currently, it offers 40 certification courses from various technology and software vendors and organizations, including Microsoft, IBM, Oracle, CompTIA, Autodesk, EC-Council, Adobe and others.
Prestariang was listed on Bursa Malaysia’s Main Market on 27th July 2011 win an IPO price of 90 sen. Unfortunately, due to listing timing, the share price performed badly since the listing day. The price drop to lowest of 47.5 sen on 19th September. It was close at 55.5 sen on 5th October.
The management has set a dividend policy of up to 50% for the next 3 years. Based on forecast earnings by OSK Research, it translates into a lucrative dividend yield of >10% for both FY11 and FY12 given the recent weakness in the share price. OSK Research also estimates, the target price or fair value of Prestariang at 92 sen representing 66.8% up site potential from 5th October closing price.