KUALA LUMPUR (Feb 1): The government s termination of the integrated immigration system that was in the process of development by Prestariang SKIN Sdn Bhd has resulted in irreparable damage to Prestariang Bhd group of companies that in turn resulted in destruction of shareholder value and created financially stress.
Prestariang Bhd is now known as AwanBiru Technology Bhd (AwanTec). SKIN is the Bahasa Malaysia s abbreviation of the Sistem Kawalan Imigresen Nasional (SKIN) project that was awarded in 2018 just before the 14th general election (GE14).
The company s counsel Datuk Lim Chee Wee in a continuation of his opening statement over the suit filed in 2019 said that the expropriation by the government resulted in the company undergoing tremendous reputational loss and this continued till today.