KUALA LUMPUR: ARB Bhd is venturing into Cambodia, having won long-term information technology (IT) contracts worth US$120 million from a property developer and an insurer there.
The contracts involve smart buildings that incorporate sensors and artificial intelligence to facilitate energy efficiency in heating, ventilation, air conditioning and lighting.
ARB executive director and chief executive officer (investment and technology) Datuk Larry Liew Kok Leong said the contracts marked its maiden foray into Cambodia for the Internet-of-Things (IoT) project.
ARB's wholly-owned unit ARBIOT Sdn Bhd entered into a Memorandum of Understanding with Chean Chhoeng Thai Group Co Ltd (CCTG) to deploy IoT and information technology solutions worth at least US$100 million to equip smart buildings at CCTG’s mixed development projects in Phnom Penh.
CCTG's “The City Gate” mixed development will see construction of 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 in Phnom Penh.
Liew said when the MoU materialised into a legally binding agreement in six months, his team would design and install wireless switches, security cameras, video intercom, HD video conference, connected AV and network systems in the buildings.
CCTG has a registered share capital of Cambodian Riels 80 billion Cambodian riels (about RM81 million).
CCTG is the private vehicle of Shanghai-listed Guangzhou Yuetai Group Co Ltd , which has a market capitalisation of over 11 billion yuan (about RM7 billion).
Separately, ARB entered into an MoU with HK Yue Tai Life Insurance to provide Enterprise Resource Planning (ERP) system worth at least US$20 million.
HKYT Life Insurance was incorporated in Cambodia on July 26 2017 and has a registered share capital of 20 billion Cambodian riels.
Under the MoU, ARB will deploy ERP system and IT-related hardware and software for HKYT Life Insurance. The latter will also outsource the IT management project to ARB.