SWSCAP (7186) SWS Capital Bhd ventures into drones, AI to boost Malaysia's agriculture
KUALA LUMPUR (July 9): Bursa Malaysia-listed manufacturing company SWS Capital Bhd (SWS) is venturing into drones technology, confident that an Industry 4.0 data-driven approach via Artificial Intelligence (AI) to Malaysia's agriculture will boost yields and efficiency for local producers.
In a statement, SWS said it inked a memorandum of understanding today with local information technology (IT) company Nexus Union Sdn Bhd with an Options Agreement to purchase 3.44 million shares or a 51% stake in Nexus' 70%-owned subsidiary MATA Aerotech Sdn Bhd valued at RM4.725 million.
MATA Aerotech is joint-venture (JV) company formed with Taiwan-listed Geosat Aerospace & Technology Inc (Geosat), while the JV between Nexus and Geosat is the result of cooperation from Taiwan's Ministry of Economic Affairs, the statement said.
"MATA Aerotech's partnership with Geosat of Taiwan makes it the premier drone company in Malaysia for optimising agricultural performance," the statement quoted SWS executive chairman Tan Sri Tan Khoon Hai as saying.
A MATA Aerotech spokesman said the efficiencies brought on by drone technology would increase yield and incur less harm to the environment.
The statement added that MATA Aerotech recently demonstrated the drone technology to some of Malaysia's largest agribusiness players and collaboration was underway with them.
"Deploying drones to accurately map plantations, assess crop health and spray pesticides and fertilisers over thousands of hectares offer vast benefits. Producers are able to save millions of ringgit via superior labour deployment, input materials procurement, while also reducing wastage and leakages all along its value chain," said the statement.
"Drones are the next big thing in the agribusiness world. It's going to be a game changer". — Bernama
http://www.theedgemarkets.com/article/sws-ventures-drones-ai-boost-malaysias-agriculture
