1 July 2021
Energy solutions provider T7 Global Bhd is teaming up with Singapore-based Siemens Logistics Pte Ltd to collaborate for business opportunities in Malaysia, especially the growing logistics sector.
In a statement, T7 Global said its subsidiary T7 Kemuncak Sdn Bhd had today entered into a collaboration agreement with Siemens Logistics.
Under this partnership, T7 Kemuncak and Siemens Logistics will leverage each other’s strengths and expertise to collaborate on airport logistics, parcel logistics and other automated solutions.
Siemens Logistics is a wholly-owned subsidiary of Siemens AG in Germany.
T7 Global chairman Datuk Seri Dr Nik Norzrul Thani N Hassan Thani said the collaboration with Siemens Logistics is expected to create more opportunities for T7 Global to venture into different markets in Malaysia.
“We are honoured to have Siemens Logistics as our partner in Malaysia. Siemens Logistics is a world-class leader in airport logistics, parcel logistics and other automated solutions.
“The board envisages that the agreement will potentially improve the earnings and net assets of the company once the potential benefits from the agreement have materialised,” he added.
T7 Global is venturing into logistics with Siemens Logistics as the former vies for the baggage handling system (BHS) upgrade contract for the Kuala Lumpur International Airport (KLIA).
T7 Global along with other Bursa Malaysia listed firms — MMC Corp Bhd, Fajarbaru Builder Group Bhd, Bina Puri Holdings Bhd — and six multinational corporations are among the joint bidders for the contract.
The six MNCs which are reportedly interested in the BHS project are German-based Siemens AG and Beumer Group, Japan-based Daifuku Co Ltd and Toyo Kanetsu KK, Dutch-based Vanderlande Industries BV and Singapore-based Pteris Global Ltd.
It is learnt that Malaysia Airports Holdings Bhd (MAHB), which operates KLIA, has allocated up to RM1 billion to modernise the BHS at the country’s largest and busiest airport.
When contacted by The Edge, MAHB confirmed that it had invited leading global BHS original equipment manufacturers to participate in the tender. However, it said the list of participants is as yet unknown, as the proposals have yet to be submitted.
T7 Global shares closed up one sen or 2.78% to 37 sen, for a market capitalisation of RM235 million. There were 4.25 million shares traded.