PETALING JAYA: ARB Bhd has entered into a memorandum of understanding (MoU) with Chean Chhoeng Thai Group Co Ltd (CCTG) to deploy Internet of Things (IoT) and information technology (IT) to the latter’s US$1.5 billion (RM6.2 billion) mixed development project in Phnom Penh, Cambodia.
The total value for ARB’s IoT and IT project is not less than US$100 million (RM417 million).
CCTG’s mixed development project involves the development 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.
CCTG is the private vehicle of the major shareholders of Shanghai-listed Guangzhou Yuetai Group Co Ltd.
In addition, ARB also entered into an MoU with HK Yue Tai Life Insurance (HKYT) to provide to the enterprise resource planning system and solutions.
The project is valued at no less than US$20 million.
Under the MoU, ARB will deploy the related hardware and software for HKYT and in turn the HKYT will outsource the IT management project to ARB.