VCI Global Partners with UK's Wootzano, Aiming to Deploy 10,000 Robots in Malaysia by 2030

VCI Global Limited VCIG inked a pact to function as the exclusive distributor of UK-based robotics company Wootzano Limited’s Avarai robotic packing systems in Malaysia.

“This presents a tremendous opportunity to help revolutionize Malaysia’s post-harvest supply chain,” said Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

The deal enhances VCI Global’s capacity and worth as a supplier of business development and consulting services to diverse industrial sectors, it said in a press release.

As per the agreement, VCI Global gains priority access and favorable pricing for Wootzano’s Avarai food-handling robots in Malaysia, targeting agricultural and distribution markets. 

VCI Global commits to minimum purchases starting in 2024, eyeing deployment of 10,000 robots by 2030.

Last month, the company announced the closing of its previously announced public offering of 2.20 million ordinary shares worth $2.75 million.

Price Action: VCIG shares are trading higher by 5.35% to $1.18 on the last check Wednesday.