KUALA LUMPUR: T7 Global Bhd through subsidiary T7 Kemuncak Sdn Bhd, has entered into an agreement with Siemens Logistics Pte Ltd to collaborate in business opportunities in Malaysia especially the growing logistics sector.
T7 Global said T7 Kemuncak and Siemens Logistics would leverage on 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 of Germany.
T7 Global chairman Datuk Seri Dr. Nik Norzrul Thani N. Hassan Thani said the collaboration was expected to create more opportunities for it 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," said Nik Norzul.
T7 Global reportedly was among at least four Bursa Malaysia-listed firms and six multinational corporations bidding for three-year contract to upgrade the baggage handling system (BHS) at the Kuala Lumpur International Airport (KLIA).
The Edge reported that KLIA operator Malaysia Airports Holdings Bhd had allocated up to RM1 billion to modernise the BHS at the country's largest and busiest airport.
The other three listed firms were MMC Corp Bhd, Fajarbaru Builder Group Bhd and Bina Puri Holdings Bhd.