KUALA LUMPUR: PTT Synergy Group Bhd
said its indirect 70%-owned subsidiary has entered into a software acquisition agreement and three supplemental agreements with vTradEx Information Technology (Shanghai) Co Ltd (VTRADEX) to acquire system software for US$7.11mil (RM29.11mil).
The software acquired comprises warehouse management system, warehouse execution system, transport management system and yard management system for deployment and use in 11 countries, namely Brunei, Cambodia, East Timor (Timor-Leste), Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
The group said the purchase consideration will be satisfied in cash, which will be funded by 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 operational capabilities, data ownership and long-term recurring income potential," it said.
The proposed acquisition is expected to be completed in the first quarter of the financial year ending June 30, 2027.
