PTT has been quietly expanding across the logistics value chain: completing an intelligent logistics hub in Penang for Jabil, a global semiconductor and supply chain leader, progressing new warehouse automation systems with Sime Darby and Mydin, adding warehouse automation capabilities from vTradEx and CNANC, and moving into logistics software and after-sales services.

Put these announcements together and the picture becomes more interesting.

PTT is no longer just building warehouses. It is increasingly positioning itself to design, build, automate and support logistics facilities after completion.

For investors, that potentially means a wider addressable market, deeper involvement with each customer and more opportunities to generate income beyond the initial construction contract.

The next thing worth watching is whether PTT can use these completed projects as references to win more MNC-led logistics mandates.

When demand is soft, manufacturers usually have two choices: wait for volumes to recover or find ways to produce more efficiently.

Wellcall appears to be working on the both.

Management indicated that order momentum improved. The company is also testing a new production process that converts compounded rubber granules directly into finished hose products, potentially removing several intermediate production stages.

According to BIMB Securities, management estimates that for applicable products, this could potentially reduce raw material costs by 20–30%, labour costs by 10–15%, and overall production costs by as much as 40–50%.

The interesting part? The investment required is reportedly less than RM1 million, with commercialisation targeted by end-2026 subject to successful testing.

If it works, the benefit is not just cost savings. A leaner production process could help Wellcall protect margins during weaker demand and provide greater operating leverage when volumes eventually recover.

There is another longer-term angle too. Wellcall is exploring producing rubber compounds internally, which could reduce reliance on third-party suppliers, improve control over input costs and potentially open up new revenue opportunities from supplying rubber compounds or expanding into other rubber-based applications.

This comes while the core business remains relatively sticky. Industrial hoses typically have a 3–12 month replacement cycle, customer retention remains above 95%, and monthly shipments have held at around 100–110 containers despite the softer environment.

So while demand recovery remains something to watch, Wellcall is not simply sitting around waiting for the cycle to turn.

If the new process delivers what management expects, the next earnings lever could come from making every hose more efficiently.

Record revenue for 1Q, 2Q and 3Q, I think can earn something with this entry price