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.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.