KUALA LUMPUR (Aug 22): PTT Synergy Group Bhd (KL:PTT) said on Thursday it had signed an agreement with Chinese robotics manufacturers Siasun Robot & Automation Co Ltd to distribute autonomous intralogistics automation solutions.

The agreement is exclusive, and signed through PTT’s newly established indirect 70% owned subsidiary, PTT Robotics Sdn Bhd, with Siasun Robot and Automation (Malaysia) Sdn Bhd. Under the agreement, PTT Robotics will market equipment including automated guided vehicles (AGVs) and autonomous mobile robots (AMRs).

Siasun Malaysia, meanwhile, will supply a diverse range of AGVs, AMRs and other automated equipment, as well as provide extensive technical support to ensure implementation and operation.

The company has an internal target of achieving RM100 million rental in two years rather than outright sales, said Dan Then, the chief executive director of PTT Robotics. 

“The leasing model enables customers to be sticky with us for a long period of time, and gives us more invaluable amount of data about smart robotics implementation,” he said.

Currently, PTT Synergy is already one of the largest users of AGVs in Malaysia, and has eight industrial properties slated to be completed in three years in the pipeline.

The solutions will help companies transition from traditional methods to advanced, automated systems, enhancing their efficiency and competitiveness as demand for high-tech manufacturing grows, said PTT Synergy managing director Teo Swee Phin.

“Through this partnership, we aim to meet growing demand by providing state-of-the-art automation solutions, transitioning from simple machinery leasing such as forklifts to future-proof, fully automated systems,” he said.

Meanwhile, Siasun group vice CEO Liu Zijun commented: “By leveraging on PTT Synergy’s extensive network and market expertise, we are confident that we can deliver unparalleled automation solutions to meet the evolving needs of Malaysian industries.”

“The introduction of AGVs and other advanced technologies will play a crucial role in revolutionising the logistics and manufacturing landscape in Malaysia,” he added.

The group expects insignificant financial contributions from the Siasun collaboration for the financial year ending June 30, 2025, but remains confident in its long-term development.

Shares in PTT Synergy, which have surged 82.5% year-to-date, were unchanged at RM2.19 at the time of writing on Thursday, valuing the company at RM473 million.