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PETALING JAYA (April 3): PTT Synergy Group Bhd has entered into a long-term warehouse automation and leasing agreement with Mydin Mohamed Holdings Bhd and Sime Darby Property Bhd, marking a strategic expansion into smart logistics infrastructure with recurring income visibility.
In a Bursa Malaysia filing today (Friday, April 3), the group said its indirect 70%-owned subsidiary, PTT Robotics Sdn Bhd (PTTR), had yesterday (Thursday, April 2) entered into a Warehouse Automation System (ASRS) agreement with Sime Darby Property (Elmina East Asset II) Sdn Bhd and Mydin.
Under the agreement, PTTR will undertake the design, supply, construction and installation of the ASRS within a warehouse to be developed in Elmina East, Shah Alam. The system will subsequently be leased to Mydin for a tenure of 15 years at a monthly rental of RM900,000, subject to escalation every three years.
PTTR will also provide repair, support and maintenance services for the system throughout the lease period.
The warehouse forms part of a build-and-lease arrangement between Sime Darby Property and Mydin, where the facility will be developed and handed over for Mydin’s operational use, with the ASRS integrated as a core component of its logistics operations.
PTT Synergy said the agreement aligns with its strategy to expand into automation-led logistics solutions, transitioning towards an asset-backed model that generates recurring income streams, as opposed to reliance on one-off project-based earnings.
“The Board expects this project to contribute positively to the Group’s future earnings over the lease tenure, supported by stable rental income and increasing demand for automated logistics solutions,” it said.
The agreement is not expected to have any immediate material effect on earnings, net assets or gearing for the financial year ending June 30, 2026.
Separately, PTT also announced that its wholly-owned subsidiary, Pembinaan Tetap Teguh Sdn Bhd, has accepted a letter of award from Sime Darby Property (Bukit Raja) Sdn Bhd for earthworks and ancillary works at Bandar Bukit Raja, Klang.
The contract, valued at RM31.68 million, covers works for Residential Area Phase 5A (R17), Stage 3 of the township. Construction is scheduled to commence in April, this year, with completion targeted between August and October 2027.
PTT Synergy said the contract is expected to contribute positively to its earnings over the duration of the project, without any material impact on its share capital or net assets.
Both announcements on Bursa Malaysia were made today (Friday, April 3).
PTT Synergy closed up 1.47% at RM1.38 on April 3, 2026, after opening at RM1.36. The counter traded within a range of RM1.35 to RM1.38 during the session. It remains 7.38% below its 52-week high of RM1.49.
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