AmBank Group has provided a financing facility of RM500 million to Projek Tetap Teguh Sdn Bhd (ProTT) for the development of its automated storage and retrieval system (ASRS) warehouse in Valdor, Penang.
ProTT, a subsidiary of PTT Synergy Group Bhd (PTT), will use the funds to cover land acquisition, construction, and equipment costs for the warehouse.
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ProTT, a subsidiary of PTT Synergy Group Bhd (PTT), will use the funds to cover land acquisition, construction, and equipment costs for the warehouse.
Read more at https://shorturl.at/vupkv
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:003...2...1...
00:06With that ladies and gentlemen, the official launch of the PTT Semicon.
00:11This is a congratulation and it's marked the official...
00:16Very pleased to be present here today to witness this event by PTT Synergy Group,
00:22PTT Synergy Group Perhat, to develop their PTT Semicon Logistic Hub.
00:30And for Kesuma, this means two things.
00:34Somebody was telling me, because of all these technologies, jobs are going to be reduced.
00:40But for us it means two things.
00:42Number one, the reduction of menial and manual labour, and therefore the dependency on migrant workers.
00:50There will be job opportunities for higher skilled technicians and handlers.
00:56In other words, essentially it means more higher paying jobs for Malaysians will be created.
01:02This is of course in line with the Madani Economic Framework by our Prime Minister Datuk Syed Abdul Ibrahim,
01:08to raise the ceiling and to raise the floor.
01:12Business going up the value scale using technology by yourself, this is raising the ceiling.
01:17And workers getting higher skills and better pay, this is raising the floor.
01:22PTT Semicon Logistic Hub, one of the world-class standards of the fully automated warehouse.
01:33And then we are very thankful to M-Bank support, and we hope that we are able to continue our success together.
01:45We are targeted to complete this project on the first quarter of 2026.
01:49So that's about 15 months of construction.
01:55I think by 2026, this will be one of the world-class facilities that is going to be straight to the P9.
02:05On these particular facilities, we need high skilled engineers and technicians.
02:12Because these particular facilities easily require quite a number of engineers.
02:19In fact, right now we are also sending our local engineers to China to work on these particular AI solutions.
02:30So this is where we are able to bring this technology into Malaysia,
02:37then to support our logistics segment, to make sure all this operationally and efficiency is increased tremendously.
02:46And then we are able to reduce our cost.
02:49So this is the main objective of our collaborations with our China partner,
02:55to make sure the technology is able to transfer into Malaysia.
03:01For this particular system, it's basically automated in such a way that it's full of IoT and digital twins.
03:10Whereby these digital twins will basically tell us what will be the mistakes and the problems.
03:20And the AI will analyze and find the solutions for us and proposals for us.
03:26That is how we are utilizing AI to make sure that we progress faster than normal.
03:33So we are very happy and very pleased to be able to partner PTT for this $500 million financing,
03:41which involves the acquisition of the land, construction.
03:45And a big chunk of the financing is actually for the ASRS system.
03:50Transportation and logistics is definitely one of the sectors we want to grow going forward.
03:55Like I mentioned earlier that we have disbursed close to $12.5 billion.
03:59And 48% are actually in the logistics and transportation sector.
04:04And we see this sector continue to grow with the incoming factories from China and Korea.
04:10The demand for logistics and warehousing will continuously increase.
04:14All the way from the EV trucks and all the way also to high-tech warehousing.
04:21The whole chain of supply that we will continue to support the industry to grow this sector going forward.