KUALA LUMPUR (Sept 1): Prestar Resources Bhd is extending its collaboration with Murata Machinery Ltd (Japan) for the supply of automated storage and retrieval system (ASRS) racking systems. 

According to the statement by Prestar, the company's wholly-owned subsidiary Prestar Storage System Sdn Bhd recently entered into a supplemental manufacturing partnership agreement with Murata's logistic and automation division to include additional nine subsidiaries of Murata from various regions and countries, namely the US, China Europe, India, Thailand, Singapore, Vietnam, Taiwan and Hong Kong in the manufacturing partnership agreement.

With the supplemental manufacturing partnership agreement, the steel product and equipment maker said Prestar Storage in total will be covering 10 regions, including the main partnership located in Japan.  

Prestar group managing director Datuk Toh Yew Peng said the extended collaboration will provide Prestar Storage with a growth opportunity to participate in the supply of ASRS racking systems to various Murata subsidiaries and markets.   

“This extended collaboration is expected to give Prestar Storage instant accessibility for supplying ASRS racking systems to e-commerce, pharmaceutical, omnichannel distributions and high-throughput industries such as fast-moving consumer goods in the global market,” he added.

To recap, Prestar Storage in June 2020 entered into a manufacturing partnership agreement with Murata's logistic and automation division to supply ASRS racking systems for the latter's global market, including the US, Japan, China and ASEAN countries.   

Prestar Storage is engaged in the business of providing storage solutions, installing all kinds of material handling equipment and manufacturing of racking and shelving system products under the brand name “MYSTAR”.  

As at 11.35am today, Prestar's share price had risen 4.73% or three and a sen higher to 78 sen, with a market capitalisation of RM277.49 million.