Logo of Phnom Penh Post newspaper Phnom Penh Post - ARB gains 3% on its foray into Cambodia

ARB gains 3% on its foray into Cambodia

Content image - Phnom Penh Post
ARB Bhd shares on the Bursa Malaysia stock market rose 3.19 per cent on Thursday morning. THE STAR

ARB gains 3% on its foray into Cambodia

Shares in ARB Bhd gained three per cent in early trade Thursday after the company announced its maiden foray into Cambodia’s Internet of Things (IoT) and information technology (IT) markets.

The IT solutions and services provider rose 3.19 per cent, or 1.5 sen to 48.5 sen (0.36 to 12 US cents). It is one of the most active counters on Bursa Malaysia with over 9.7 million shares done.

ARB Bhd has entered into a memorandum of understanding (MoU) with Chean Chhoeng Thai Group Co Ltd (CCTG) to deploy IoT and IT to the latter’s $1.5 billion mixed development project in Phnom Penh.

The total value for ARB’s IoT and IT project is no less than $100 million.

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 $20 million.

ARB will deploy the related hardware and software for HKYT and in turn the HKYT will outsource the IT management project to ARB.

Last month, ARB Bhd via its wholly-owned subsidiary, ARB Development Sdn Bhd (ARBD), inked a memorandum of understanding (MoU) with Cambodia’s East Insurance Plc worth $20 million to implement an enterprise resource planning system and solutions in the Kingdom. THE STAR (MALAYSIA)

MOST VIEWED

  • Breaking: US House passes 'Cambodia Democracy Act'

    The US House of Representatives in Washington, DC, on Monday, passed the “HR 526 Cambodia Democracy Act”, also known as the Cambodia Democracy Act of 2019. If signed off by the president, the bill will allow two major sets of action to be taken against high-ranking Cambodian

  • ‘Zero-dollar’ tours under fire

    Minister of Tourism Thong Khon has blamed “zero-dollar” tour operators for the decrease in foreign tourists to Angkor Archaeological Park in the first half of this year and has called for action against them. Angkor Archaeological Park received 1.24 million foreign visitors in the first half

  • Breaking: Rubbish found packed inside 83 containers at S'ville port

    Eighty-three containers packed with rubbish were broken open at Sihanoukville Autonomous Port by joint authorities on Tuesday. The origin of the containers has yet to be ascertained, Ministry of Environment spokesman Neth Pheaktra said. Pheaktra, who is also the ministry’s secretary of state, said

  • VIP prison scrapped amid much criticism

    The Ministry of Interior announced on Thursday that Cambodia’s first privately run prison, which was to allow prisoners with enough money to upgrade to more comfortable cells, has been scrapped. Ministry spokesman Khieu Sopheak said studies had found that no other country in the