Ramco continues to win business in Malaysia. The Port of Tanjung Pelepas has selected Ramco ERP to replace its existing solution. The search began in 2016 when it issued a pre-qualification notice looking for an integrated ERP solution. The new solution will support features including Procure-to-pay, Billing to cash, Asset to Disposal, Accounting to Financial Reporting, Budgeting to Approval, Treasury to Cash Management, Project to Asset Capitalization Process and Human Resource Management.
Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) is a joint venture between MMC Corporation Berhad the primary shareholder and APM terminals. Opened in 1999 it now has 14 berths and over five kilometres of wharf length and was one of the fastest growing ports in the world in its early years. This latest decision is part of a plan to increase efficiency as customer demand increases.
Marco Neelsen, Chief Executive Officer of PTP commented: “Given the pace at which technological advancements are changing the world, it is imperative for PTP to remain competitive and attractive. By investing in the latest technology, we are establishing our terminal as one of the best equipped and most technologically advanced terminal port in the region.
“We also wanted to choose a digital solution partner with tools that can aid us in our growth as well as give us the right platform to integrate to advanced technologies. With the product and service that Ramco provides us, we believe it will benefit us well”.
Enterprise Times: What does this mean
This is another significant win for Ramco. Its shares rose slightly on the news. However the shares price have consistently declined over the last few months from a high of INR 498.80 to a recent close at INR 221. Ramco continues to win business across its target market but is not matching the growth of some if its rivals, such as IFS. It has still not had a significant win in the European market and its success in North America has been largely limited to MRO operators rather than with its HR or ERP solutions.
If the PTP win leads to other ports selecting Ramco, then those small share price increments might continue. However, it needs to show considerable growth to recover to its share price high of INR 1,005 it once reached in July 2015.