PTT Synergy Unit To Acquire Logistics Software, IP For US$7.1 Mln
KUALA LUMPUR, July 17 (Bernama) -- PTT Synergy Group Bhd’s indirect subsidiary, PTT Robotics Sdn Bhd, has agreed with vTradEx Information Technology (Shanghai) Co Ltd to acquire logistics software and related intellectual property (IP) rights for US$7.10 million (US$1=RM4.09).
The Chinese technology company vTradEx is principally engaged in providing supply chain management software for the logistics sector.
The software covered under the agreement comprises a Warehouse Management System, Warehouse Execution System, Transportation Management System and Yard Management System.
It will be deployed and used in 11 countries, namely Brunei, Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
PTT Synergy said in a Bursa Malaysia filing today that the purchase consideration would be satisfied in cash and funded through a combination of internally generated funds and bank borrowings.
“The acquisition of the software is intended to transform PTT into a one-stop integrated logistics solutions provider through the deployment of a fully integrated system, thereby strengthening its operational capabilities, data ownership and long-term recurring income potential.
“The acquisition of the software is anticipated to contribute positively to PTT Group’s future earnings,” said the industrial infrastructure, logistics facilities and construction company.
The proposed acquisition is expected to be completed in the first quarter of the financial year ending June 30, 2027.
-- BERNAMA