Arb signs MoU to undertake IoT project in Cambodia worth US$100 mln

KUALA LUMPUR, ARB Bhd plans to deploy Internet of Things (IoT) and information technology (IT) to a mixed development project in Phnom Penh, Cambodia, in a deal valued at not less than US$100 million (RM413.8 million).

Its wholly-owned subsidiary Arbiot Sdn Bhd today signed a memorandum of understanding (MoU) with Chean Chhoeng Thai Group Co Ltd (CCTG) to provide the IoT and IT solutions for CCTG’s US$1.5 billion (RM6.2 billion) The City Gate project.

ARB executive director and chief executive officer (investment and technology) Datuk Larry Liew Kok Leong said the signing marked ARB’s maiden IoT business foray into Cambodia.

We are extremely excited to work with CCTG to offer a unique living experience for the purchasers of The City Gate, he said in a statement today.

The development in Cambodia’s most populous city will comprise office buildings, a commercial complex, an arts centre, a cultural square, resorts, condominiums, a five-star hotel, an exhibition centre, and a public park, along the Tonle Sap river.

CCTG is the private vehicle of the major shareholders of Shanghai-listed Guangzhou Yuetai Group Co Ltd.

Meanwhile, ARB, through another wholly-owned subsidiary ARB Development Bhd (ARBD), signed an MoU today with HK Yue Tai Life Insurance (HKYT) to provide enterprise resource planning (ERP) system and solutions worth US$20 million (RM82.8 million).

Under the MoU, ARBD is expected to deploy ERP system and IT-related hardware and software for HKYT and HKYT would outsource the IT management project to ARBD.

Source: BERNAMA (News Agency)