PETALING JAYA: PTT Synergy Group Bhd has signed a 10-year build and lease agreement to provide a fully automated warehouse for RM399.7mil.
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In a filing with Bursa Malaysia, the company said the agreement was signed between its wholly-owned subsidiary, Projek Tetap Teguh Sdn Bhd (PROTT) and a multinational corporation (MNC) semiconductor maker based in Penang.“The built-to-suit and lease will be for a period of 10 years with a first extended term of five years and second extended term of five years, with total lease rental amounting to approximately RM399.7mil for the first 10 years,” it said.“The agreement will enable PROTT to unlock the value of the property and allows PROTT and the manufacturer to participate in the business opportunities in a fully automated warehouse logistics and distribution centre,” PTT said the agreement is a testament to its mission to grow its end-to-end warehousing solution business not only in Malaysia but across the Asean region.
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