Company Overview - ARB IOT Group Limited has announced an order to manage 3,000 acres of palm oil plantations using its AI Smart IoT Palm Farming System, aimed at enhancing operational efficiency and improving yield in the Sabah region of Malaysia [1] - The Smart Farming System leverages IoT technology for real-time monitoring, data analytics, and automation, supporting precision fertilization and pesticide application, thereby driving sustainability and profitability in the palm oil sector [3] Industry Context - Malaysia is the world's second-largest producer and exporter of palm oil, exporting around 15 million metric tons valued at approximately USD 30.4 billion in 2022 [2] - The palm oil industry contributed around 35 billion Malaysian ringgit (approximately USD 7.8 billion) to Malaysia's total gross domestic product [2] Strategic Partnership - The partnership with Whizzl Sdn Bhd is a significant milestone for ARB IOT, expected to generate additional yearly recurring revenue of approximately USD 20 million [4] - Whizzl will play a key role in marketing and distributing ARB IOT's Smart IoT Palm Farming solutions, enhancing accessibility for palm plantation owners and agribusinesses [5][6]
ARB IOT Group Limited Secures Yearly Recurring Order of Approximately USD20 Million in Smart IoT Palm Farming Business in Sabah