KUALA LUMPUR (Bernama): ARB Bhd plans to deploy Internet of Things (IoT) and information technology (IT) to a mixed development project in Phnom Penh, Cambodia, in a deal valued at not less than US$100mil (RM413.8mil).
Its wholly-owned subsidiary Arbiot Sdn Bhd today signed a memorandum of understanding (MoU) with Chean Chhoeng Thai Group Co Ltd (CCTG) to provide the IoT and IT solutions for CCTG's US$1.5bil The City Gate project.
ARB executive director and chief executive officer (investment & technology) Datuk Larry Liew Kok Leong said the signing marked ARB’s maiden IoT business foray into Cambodia.
"We are extremely excited to work with CCTG to offer a unique living experience for the purchasers of The City Gate,” he said in a statement today.
The development in Cambodia's most populous city will comprise office buildings, a commercial complex, an arts centre, a cultural square, resorts, condominiums, a five-star hotel, an exhibition centre, and a public park, along the Tonle Sap river.
CCTG is the private vehicle of the major shareholders of Shanghai-listed Guangzhou Yuetai Group Co Ltd.
Meanwhile, ARB, through another wholly-owned subsidiary ARB Development Bhd (ARBD), signed an MoU today with HK Yue Tai Life Insurance (HKYT) to provide enterprise resource planning (ERP) system and solutions worth US$20mil (RM82.8mil).
Under the MoU, ARBD is expected to deploy ERP system and IT-related hardware and software for HKYT and HKYT would outsource the IT management project to ARBD.