PTT Synergy Unit Inks Asrs Deal, Secures RM31.68 Mln Contract From Sime Darby Property

KUALA LUMPUR, April 3 (Bernama) -- PTT Synergy Group Bhd’s indirect 70 per cent-owned subsidiary, PTT Robotics Sdn Bhd (PTTR), has entered into a warehouse automation system agreement with Sime Darby Property Bhd and Mydin Mohamed Holdings Bhd.

In a filing with Bursa Malaysia, the group said the agreement includes designing, supplying, constructing, and installing an Automated Storage and Retrieval System (ASRS) within a designated warehouse area.

Under the agreement, PTTR would lease the ASRS to Mydin at a monthly rental of RM900,000, subject to rental escalation every three years, over a lease tenure of 15 years.

PTTR will also undertake repair, support and maintenance services for the system in accordance with the terms of the agreement.

The group said the arrangement supports its strategy to expand into smart warehouse and logistics infrastructure, while enabling recurring income generation through the leasing of automation systems.

“By undertaking the ASRS endeavour, the group moves towards an asset-backed business model with improved earnings visibility, reducing reliance on one-off construction income,” it said.

PTT Synergy expects the project to contribute positively to its future earnings over the lease tenure, supported by stable rental income and growing demand for automated logistics solutions.

In a separate filing, the group said its wholly-owned subsidiary Pembinaan Tetap Teguh Sdn Bhd accepted a letter of award from Sime Darby Property (Bukit Raja) Sdn Bhd for the proposed construction and completion of earthworks and ancillary works for Residential Area Phase 5A (R17), Bandar Bukit Raja Stage 3, in Klang, Selangor, worth RM31.68 million. 

The group said the contract is in the ordinary course of business, undertaken at arm’s length and based on normal commercial terms, and is expected to contribute positively to future earnings over the duration of the contract.

-- BERNAMA