PTT Synergy buys Gombak land for RM60mil to build automated warehouse
In a filing with Bursa Malaysia, the group said it plans to develop a single-storey industrial facility equipped with an automated storage and retrieval system (ASRS) on the lands, which will subsequently be leased to a third party upon completion.
The land parcels collectively span up to 7,215 sq m, with individual prices of up to RM9.5mil.
The proposed development is expected to cost RM270mil and will be funded with a mix of internally generated funds and bank borrowings.
Construction is slated to begin on July 31, 2025, with completion targeted within 18 months.
Upon completion, the facility is expected to generate annual rental income of RM22.2mil.
PTT Synergy noted the land acquisition will support its investment strategy to develop a fully automated commercial warehouse and reinforce its commitment to providing end-to-end intralogistics solutions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
41 minutes ago
- The Star
Trading ideas: PTT, Azam Jaya, Harvest Miracle, AmFIRST REIT, Citaglobal, Pharmaniaga, Saliran, Pentamaster, Magma
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. PTT Synergy Group Bhd has allocated RM2.3bn in capital expenditure over the next two years for its automated warehouse business, which will cover the development of four new automated warehouses. Azam Jaya Bhd's unit Pembinaan Azam Jaya Sdn Bhd has bagged a RM120.9mn contract from the Transport Ministry for upgrading works at Tawau Airport in Sabah. Harvest Miracle Capital Bhd is formally diversifying into construction materials trading after successfully dipping its toes into the segment. AmFIRST Real Estate Investment Trust has appointed Mana Mana Holdings Sdn Bhd, a subsidiary of Exsim Hospitality Bhd, as the project manager of the refurbishment and rebranding of the Summit Hotel Subang USJ in Selangor. The Sultan of Pahang, Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah, has increased his stake in Citaglobal Bhd to 13.3% following the off-market acquisition of 15mn shares. Pharmaniaga Bhd has completed its regularisation plan, with the completion of RM520mn capital reduction that trimmed the pharmaceutical group's issued share capital to RM249.6mn, as well as wipe out its accumulated losses. Saliran Group Bhd inked a MoU with China-based Maoming Port Group Co Ltd and Malaysia's PCA Group Sdn Bhd to establish a framework for cooperation in the oil and gas sector. Pentamaster Corp Bhd 's net profit for 2QFY25 declined 41.7% YoY to RM11.6mn from RM19.9mn previously, dragged down by lower contribution from its factory automation segment and unfavourable foreign exchange losses. Magma Group Bhd former executive chairman Datuk Seri Ismail @ Farouk Abdullah has ceased to be a substantial shareholder in the hotel management and property development company, following a 0.24% stake trim to 4.9%.
The Star
5 hours ago
- The Star
PTT Synergy to put RM2.3bil in smart warehouses
PTT Synergy Group group managing director Teo Swee Phin. PETALING JAYA: PTT Synergy Group Bhd has allocated RM2.3bil in capital expenditure (capex) over the next two years for its automated warehouse business, which will cover the development of four new automated warehouses. PTT Synergy, whose business activities include construction as well as warehouse solutions and distribution centres, is strengthening its offerings by providing high-tech total intralogistics and industrial solutions. Group managing director Teo Swee Phin said the company had 15 automated warehouse projects in the pipeline in Malaysia and aims to increase the contribution from the new robotics segment going forward. 'We have a building storage capacity of 600,000 pallets, which translates into six million sq ft of warehouse facilities. 'Our goal is to increase this to two million pallets within the next three to five years,' he told reporters after the grand opening of the company's first smart logistics facility, PTT Logistics Hub 1 in Sungai Buloh. PTT Logistics Hub 1, built on a 2.63-ha site with a gross development value of RM180mil, features 168,000 sq ft of warehouse space and an additional 90,000 sq ft dedicated to operations. It can accommodate about 31,000 pallet positions. Currently the facility has an occupancy rate of around 70% and is expected to reach full occupancy within the next two months. He explained that PTT Synergy had three core segments, namely, construction, real estate and the upcoming robotics segment. The robotics segment, which comprises the automated warehouses, is expected to take about three years to develop, with the goal of matching the income currently generated by the construction business. 'At present, our real estate segment is catching up rapidly and has already surpassed the construction segment in terms of profitability. 'While our construction division typically generates about RM24mil annually, the real estate segment is projected to generate RM50mil per year and targeted to reach RM100mil in the near future,' he said. —Bernama
The Star
12 hours ago
- The Star
PTT Synergy to invest RM2.3bil in smart warehouses over next two years
SUNGAI BULOH: PTT Synergy Group Bhd has allocated RM2.3 billion in capital expenditure (capex) over the next two years for its automated warehouse business, which will cover the development of four new automated warehouses. PTT Synergy, whose business activities include construction as well as warehouse solutions and distribution centres, is strengthening its offerings by providing high-tech total intralogistics and industrial solutions. Group managing director Teo Swee Phin said the company has 15 automated warehouse projects in the pipeline in Malaysia and aims to increase the contribution from the new robotics segment going forward. "We have a building storage capacity of 600,000 pallets, which translates into six million square feet (sq ft) of warehouse facilities. Our goal is to increase this to two million pallets within the next three to five years,' he told reporters after the grand opening of the company's first smart logistics facility, PTT Logistics Hub 1, here today. PTT Logistics Hub 1, built on a 2.63-hectare site with a gross development value of RM180 million, features 168,000 sq ft of warehouse space and an additional 90,000 sq ft dedicated to operations. It can accommodate about 31,000 pallet positions. Currently the facility has an occupancy rate of around 70 per cent and is expected to reach full occupancy within the next two months. He explained that while PTT Synergy has three core segments, namely construction, real estate, and the upcoming robotics segment. The robotics segment, which comprises the automated warehouses, is expected to take about three years to develop, with the goal of matching the income currently generated by the construction business. "At present, our real estate segment is catching up rapidly and has already surpassed the construction segment in terms of profitability. While our construction division typically generates about RM24 million annually, the real estate segment is projected to generate RM50 million per year and targeted to reach RM100 million in the near future,' he said. Teo said that for robotics, the income generated will be comparable to that of the construction segment if it achieved its two million pallet positions over the next three to five years. "This strategic diversification is aimed at making our business more resilient and sustainable in the long run,' he added. He emphasised that each of the three segments would contribute equally to the group's income, reducing reliance on a contribution from a single segment such as construction, which is subject to volatility due to fluctuating costs and demand. Teo said that the robotic leasing model will provide recurring income for the company. Commenting on its international presence, Teo said that the company is ready to venture regionally, with the first overseas destination being Thailand. "We are targeting to begin operations in Thailand by the end of this year. While the Thai venture is still in the early stages, pending due diligence and further familiarisation with local regulatory policies, we view this as a significant step in our regional growth strategy,' he said. He disclosed that PTT Synergy has identified an 8.09-hectare land located in Rayong, Thailand, which is adjacent to a client's site. On the outlook, Teo said next year is expected to be significantly better for the group, supported by revenue contributions from all three segments. - Bernama
