AmBank Group Bhd has extended a RM498.6 million financing facility to Projek Tetap Teguh Sdn Bhd (ProTT), a subsidiary of PTT Synergy Group Bhd, for the development of an Automated Storage and Retrieval System (ASRS) warehouse in Valdor, Pulau Pinang.

The state-of-the-art facility, featuring Internet of Things (IoT) and artificial intelligence technologies, will be leased to a multinational semiconductor manufacturer based in Penang.

With a capacity of 47,320 pallet positions, the warehouse is set to optimise machine utilisation and process efficiencies. Construction is targeted for completion in the first half of 2026, marking ProTT's second project to date.

Christopher Yap, Managing Director, Business Banking, AmBank Group, expressed pride in supporting ProTT's expansion. "This project exemplifies their ability to deliver tailored industrial solutions while advancing their ESG and sustainability agenda. It also underscores AmBank's commitment to fostering technological progress in Malaysia's manufacturing sector," he said.

Teo Swee Phin, Group Managing Director of PTT, highlighted the project's significance. "This groundbreaking ceremony reflects our dedication to innovation, sustainability, and excellence. It is a cornerstone of our vision to elevate Malaysia's industrial and logistics sectors and will serve as a benchmark for industrial property development in the country," he noted.

This collaboration strengthens AmBank's role in driving Malaysia's industrial and economic growth while providing innovative financial solutions to its clients.