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Job opportunities in digital industry expected to rise

As such, employees should continuously upskill and reskill to stay relevant in current circumstances, JobStreet MD says

The digital industry has offered 97,909 jobs in the first half of 2021 (1H21) and the number is expected to increase until the end of this year, according to the National Tech Association of Malaysia (Pikom).

The association noted that the number of jobs in the digital industry remained high, where the listings on JobStreet platform reached 135,451 in 2020.

JobStreet MD Vic Sithasanan said employees should continuously upskill and reskill to stay relevant in current circumstances.

“Our platform foresees that percentages for ‘digital first’ skills and expertise would increase even more due to rising demand for digital tools and processes.

“Hence, there is an urgent need for people to upskill themselves with knowledge of digital technologies coupled with digital literacy and transferable skills,” he said at the launch of the Economic and Digital Job Market Report (Malaysia) 2021 by Pikom and JobStreet yesterday.

However, the report by Pikom revealed that the salary forecast for the digital industry would only grow 0.1% this year and 2% for 2022 as a direct impact of the pandemic including the Movement Control Order, economic uncertainties and job losses.

It has predicted a downward trajectory for the growth of the domestic information communication technology (ICT) and digital industry as a whole.

The report also emphasised that the digital industry as well as those companies providing ICT and digital products and services have been greatly impacted by the global pandemic.

“The salaries for entry level and junior executive positions in the IT industry have been on a slight upward trajectory of 2% predicted for 2021. Meanwhile, there’s only a 0.2% increase in salaries for senior positions.

“There is also an issue of an oversupply of talent in the local job market, with many university graduates working in the ICT and digital space.

“This could cause brain drain as those with the relevant skills prefer to work and settle overseas where the demand for their skills is greater and the salary offered is higher,” it said.

It added that the internal brain drain could cause a shortage of talent and a halt in innovation for local ICT and digital companies, resulting in a loss in competitiveness as these companies will no longer be able to meet market demands.

Meanwhile, the report also highlighted regional comparisons of the digital industry with other countries.

Malaysia is ranked seventh in the purchasing power parity ranking, which compares the salaries of digital and ICT professionals in Malaysia with those of other countries.

Thailand surpassed Malaysia in this ranking, which means the average salaries of ICT professionals working in Thailand are higher than those working in Malaysia.

Other Asean countries such as Vietnam, Indonesia and the Philippines are also following closely behind in this ranking.

On the bright side, the cybersecurity sector in Malaysia has not been affected much by the pandemic and has been growing steadily with many demands for talents and professionals in this area.

Pikom has advised workers in the ICT and digital sectors to keep their skills up to date as these are essential in ensuring employability and can help with re-employment when necessary.

Nevertheless, it noted that the digital industry growth would still largely depend on the improvement in the 2H21, especially in terms of the pandemic, economic recovery, as well as other non-economic factors.

Source: The Malaysian Reserve

Job opportunities in digital industry expected to rise

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The government will continue to support the growth of companies providing integrated logistics services by offering Integrated Logistics Support (ILS) incentives and International ILS status.

Deputy International Trade and Industry (MITI) Minister Datuk Lim Ban Hong said according to the Malaysian Investment Development Authority (MIDA), 271 companies from the logistics sector have been approved for ILS incentives and 212 companies were approved for the IILS status from 2006 to March 2021.

He said this in the Dewan Rakyat today, in reply to a question from Ma’mun Sulaiman (Warisan-Kalabakan) on efforts to create new investments in Sabah’s logistics sector.

“Two companies from Sabah have been approved for the ILS incentive, but no company from the state has received the IILS status,” said Lim.

The ILS refers to companies that perform various end-to-end logistics-related service activities such as air, sea, land and rail transport, warehousing and related services, as well as other value-added services that make up the overall package of logistics services.

The deputy minister said the government — via MITI and MIDA — has organised engagement programmes with logistics companies in Sabah to share information on the facilities and incentives provided by the government.

He highlighted that the Federal government has channelled RM395 million under the 10th Malaysia Plan (10MP) for the Container Port Terminal in the Lahad Datu Palm Oil Industrial Cluster (POIC) area, which could increase the container handling capacity by up to 50,000 Twenty-foot Equivalent Unit (TEU) annually.

Lim added that under 12MP, the Federal government has allocated RM1.02 billion for the Sapangar Bay Container Port expansion project, which is expected to boost its container handling capacity to up to 875,000 TEU per annum by 2024.

Source: Bernama

Govt continues to support integrated logistics services – MITI

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Sustainability has become a new non-financial metric for investors to assess a company’s risk and today, most companies globally have embarked on the journey to shift their operation to adopt better greener alternatives.

Realising the importance of promoting and advocating green technologies into businesses, Tenaga Nasional Bhd (TNB) and DHL Express Malaysia (DHL) have entered into a memorandum of understanding (MoU) that will see the latter introducing electric vehicles (EVs) into its fleet.

The first batch of fully electric vans is expected to be rolled out in the first half of next year (1H2022). The partnership forged is in line with DHL’s aspiration for zero emissions logistics by 2050.

It is also part of the Deutsche Post DHL Group’s wide-scale efforts to decarbonise the company — the group plans to invest a total of €7 billion (RM35 billion) over the next decade in climate-neutral logistics.

DHL Express Malaysia and Brunei managing director Julian Neo says, as the world’s leading express service provider, DHL Express is committed to its role of setting the standards for climate protection in the industry.

“Through collective efforts with partners like TNB, we can achieve long-term sustainable value for the communities we serve and meet our group-wide goal of zero greenhouse gas emissions by 2050.

“We are committed to electrifying 60% of our fleet by 2030 and since the last three months from the date we signed the MoU, we have actually progressed quite a bit. We expect the first batch of three EV vans to arrive in 1H2022.

“We are responsible for the world we live in. At DHL, we can contribute to this effort by ensuring more sustainable deliveries. The use of the electric vans marks the beginning of our efforts to make our last-mile delivery and line hauls greener. We will continue to electrify our vehicles to deliver excellence to our customers,” Neo says.

TNB, on the other hand, will develop the infrastructure and install EV charging stations at DHL’s service centre in Chan Sow Lin, Kuala Lumpur, plus several more along selected delivery routes.

The MoU will also see the two firms investing in energy-efficient equipment, and building energy management systems and rooftop solar panels.

“We are also putting two direct fast chargers out on the road to facilitate charging during DHL’s operation outside of the service centre. One of them is located at the TNB Dayabumi substation. It only takes 1 minute of charging for a 6km run.

“We are always open to inviting other EV players to use the charger. For us, this is significant progress that we have made and we are working with DHL to ensure that we can deliver this on time,” says Tenaga Nasional chief retail officer Datuk Ir Megat Jalaluddin Megat Hassan.

DHL’s EV fleet — a perfect solution for flexible urban deliveries

Elaborating more on the EV fleet, Neo says the specification makes it a perfect solution for flexible urban deliveries.

“The EV vans just require about seven hours of charging time [for a] drive of up to 200km on a single charge, which is more than sufficient for DHL. When we did our study, on average, our vans just used 180km on a daily basis in a pilot distance. Complete with the support of the direct fast charger, it is sufficient to support us in our operation,” he shares.

Beyond making its operation environmentally friendly, DHL Express also offers solutions to customers and businesses that are constantly looking to reduce their carbon footprint.

“We currently offer a Go Green option for parcel delivery, thus empowering customers to adopt greener and fuel-efficient options. In Malaysia, we also provide additional carbon reporting services that allow customers to analyse their environmental footprint and manage their carbon emissions. Customers can also receive verified calculation and offsetting of greenhouse gas emissions for our transport and logistics services through climate protection projects,” he says.

On top of that, DHL is looking into a potential partnership where the group aims to recycle its packaging materials. “It’s currently at the infant stage of discussion. We are looking at how we can further recycle packages that have been used during deliveries,” Neo highlights.

DHL committed to expanding green product portfolio

DHL Express recently announced the sustainability roadmap in tandem with its global go green goals. Amid the surge in demand for e-commerce transactions, which drive the logistics sector, the company is committed to reducing its carbon emissions from 33 million tonnes in 2020 to 29 million tonnes in 2030.

“We also want to be a leader in sustainability in logistics aviation. We plan to increase sustainable aviation fuel blend to at least 30% by 2030. We also plan to introduce carbon neutral buildings; we are going to design 100% of all new buildings with carbon neutral.

“We currently have in plan eight facilities. One has gone live and three more in the pipeline will be going live with solar panels installed. That will potentially give us 800kW once all are fully completed,” Neo elaborates.

DHL Express will continue to expand its green product portfolio by offering alternative solutions to all of its products and services.

TNB ready to support EV infrastructure in the country

Meanwhile, as the national utility service provider, TNB is ready to provide and empower EV infrastructure in the country.

Megat Jalaluddin highlights that the MoU with DHL will pave the way for TNB to provide critical infrastructure for the logistics company in providing the best services to its customers.

“Looking at the whole ecosystem of the EV infrastructure, we believe we can attract more customers in the future. We will create a robust business model for our potential customers. This business model is designed to strengthen the foundational support for EV proliferation in Malaysia as we help reduce any range anxiety for potential individual car owners who are looking to switch to EV in the near future,” he says.

“Together with the government’s support, it is only a matter of time before EV becomes commonplace in the country, which is our objective. In a sense, TNB is ready to electrify the green agenda of Malaysia,” he explains.

On the renewable energy front, TNB says it is planning to increase its generation of renewable energy capacity to 8,300MW by 2025, up from the current rate of 3,402MW. It also plans to expand the adoption of renewable energy technologies such as solar, wind, biomass and biogas.

According to Megat Jalaluddin, the utility company recently shared its planned sustainability journey, which outlines its commitment to be a net-zero carbon emission company by 2050, during the announcement of its first half FY2021 results.

“In our sustainability journey, we are committed to deploying initiatives that include our plan to reduce carbon emissions to 35% and coal generation to 50% by 2035. We also intend to accelerate investments in emerging green technologies like green hydrogen and carbon capture and utilisation (CCU) as soon as they become economically viable,” he concludes.

Source: The Edge Markets

TNB, DHL partnership marks significant milestone in EV introduction into businesses

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The Digital Investment Office (DIO), which was established by the National Council of Digital Economy and Fourth Industrial Revolution (MED4IR), has facilitated RM13.1 billion of digital investments in Malaysia since its inception in April this year, said International Trade and Industry Minister Datuk Seri Mohamad Azmin Ali.

During the minister’s question time in Parliament on Monday, he said DIO has facilitated two digital projects relating to data centres valued at a total of RM13.1 billion, as well as RM57.3 billion in digital projects which are currently in the pipeline.

“The DIO is a collaboration between MIDA (Malaysia Investment Development Authority) and MDEC (Malaysia Digital Economy Corp) to streamline the efforts in attracting foreign investment in the strategic digital infrastructure segment such as data centres, submarine cables and dark fibre.

“The DIO is also an important structure in realising the National Investment Aspirations with regard to digitalisation. The DIO aims to attract digital investments of RM70 billion by 2025,” he said in response to questions from the members of Parliament (MPs) of Dungun, Kinabatangan and Jerai.

Azmin, who is also Senior Minister, said Malaysia recorded strong performance in terms of foreign direct investment (FDI) for the first half of the year, garnering RM107.5 billion in investments across the manufacturing, services and primary industries — a 69.8% year-on-year jump compared with RM63.3 billion in the corresponding period in 2020.

“The government is committed to strengthen efforts to continue to attract foreign investment to ensure Malaysia remains competitive as a choice destination for investments, especially for high quality investments,” he added.

Source: The Edge Markets

MITI: Digital Investment Office initiative facilitated RM13b investments to date

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The 12th Malaysia Plan (12MP) aims to position Malaysia as the ASEAN digital centre, given the country’s strong capability in cyber security solutions and digital content production.

Efforts to achieve this will focus on facilitating strategic and quality investment as well as digitalising micro, small and medium enterprises (MSMEs) to broaden market access, according to the 12MP report.

The report said measures will be undertaken to improve the investment climate and encourage local and foreign venture capital in supporting a niche digital economy market.

“New value propositions to drive strategic investments in the digital economy will be created.

“These include reviewing the current Multimedia Super Corridor (MSC) Bill of Guarantees to further increase competitiveness, promote a more vibrant digital ecosystem, and attract prospective high-technology and high-value investments,” it said.

Additionally, sandboxes will be established to create a conducive environment for real-life testing, including regulatory sandboxes to drive investment and the adoption of catalytic technology.

Meanwhile, the report said that under 12MP, MSMEs will be encouraged to adopt digital technologies in production, processes and business services, mainly in the back-end of business operations.

“Training and awareness programmes will be implemented for MSMEs to enhance readiness to digitalise and compete in the international market.

“Appropriate digital solutions will be identified and proposed to match the level of business readiness through digital adoption incentives,” it added.

The report also said the eBerkat initiative, an initiative to facilitate MSMEs to financial sources in expanding businesses, will be further promoted to assist the MSMEs as well as entrepreneurs among the B40 households in acquiring knowledge, securing insurance and accessing micro-financing services.

“This will enable the MSMEs to participate in bigger markets and expand their businesses internationally,” it said.

Source: The Edge Markets

12MP seeks to position Malaysia as ASEAN digital centre

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Enhancing the competitiveness of the transport and logistics industry, as well as its governance, are among the focuses of the 12th Malaysia Plan (2021-2025) to improve national productivity, facilitate economic growth and improve the wellbeing of the rakyat.

According to the 12MP document released by the Economic Planning Unit, Malaysia aims to become a transport and logistics hub in the South-East Asia region by 2025, with initiatives to be introduced to enhance the competitiveness of the transport and logistic sectors.

The document stated that the initiatives include enhancing efficiency and leveraging digitalisation in transport and logistic services, at the same time contributing towards improving cargo-handling processes, increasing cargo volume and enhancing trade.

Two strategies will be implemented which are enhancing the efficiency of services and leveraging digitalisation in services.

“Initiatives to enhance the efficiency of transport and logistics services focus on raising the capacity of ports infrastructure and services, improving last-mile connectivity, encouraging multimodal cargo movement, upgrading the aviation system and implementing preventive maintenance of roads and bridges,” the document said.

Other than that, logistics connectivity between rail, sea and air will be improved to position Malaysia as a vibrant cargo hub, whereby the logistics industry will be encouraged to adopt the multimodal cargo movement approach to enhance logistics services capability and reduce the cost of distribution.

According to the document, a single-window transaction platform Ubiquitous Customs (uCustoms) will be fully operationalised to further improve the ease of doing business by providing a web-based, electronic end-to-end solution.

A centralised database for the transport and logistics sectors will be established which comprises a comprehensive layered map and statistics related to roads, rail, aviation and maritime services, other than containing information on greening the transport sector.

The document also mentioned that strategies will be implemented in strengthening institutional and regulatory frameworks, including improving governance and promoting green initiatives.

Furthermore, overall accessibility to public transport will be improved by integrating various modes of transport and encouraging transit-oriented development (TOD) which will contribute to reducing the dependency on private vehicles, improving productivity and enhancing the well-being of the rakyat.

According to the document, the efficiency and connectivity of public transport will be improved in order to propel public transport as the first choice for travel.

In addition, to minimise waiting and travelling time, the frequency of feeder buses will be increased and the routes will be realigned.

“While e-hailing services will be integrated with MRT and other transport services. This is expected to increase the ridership of public transport services,” it said.

Source: Bernama

12MP to enhance competitiveness of transport and logistics industry, governance

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Federal International Holdings Bhd (FIHB) will partner with China’s State Power Investment Corporation (SPIC) in its first venture into the renewable energy (RE) business.

On 21 September 2021, FIHB collaborated with a group of green-tech entrepreneurs and a multinational company to form Warrants RE Assets Sdn Bhd (WREA), whereby FIHB holds a 50 per cent stake in the entity.

The purpose of WREA is to invest in greenfield and brownfield renewable energy projects in Malaysia.

FIHB executive director Datuk Choy Wai Ceong said this collaboration marks its first venture into the renewable energy segment and is proud to have SPIC as its technical partner.

“The involvement of SPIC is a vote of confidence towards our management and will help us to escalate the expansion of our footprint in the renewable energy segment,” he said in a statement today.

WREA today signed a memorandum of understanding (MoU) with SPIC Energy Malaysia Bhd (SEMB) to collaborate and acquire in part or whole operating feed-in tariff (FiT), net energy metering (NEM) and large scale solar (LSS) farm.

SEMB is a wholly-owned subsidiary of SPIC, which is one of China’s top five power generators.

Being a Global Fortune 500 company, SPIC has a good presence in the international energy market and has a presence in many countries.

With more than 126 GW installed generation capacity, SPIC plays a significant role in China and the internal renewable energy sector.

Choy said the collaboration would focus on the acquisition of a fully operated solar farm or those under construction.

“The collaboration will focus on the acquisition of solar farm, which would then undergo a process of repair and upgrade under a team led by SPIC.

“This will help the escalation of the turnaround of the solar farm that has been acquired and help to generate immediate positive cash flow,” Choy said.

WREA is responsible for the funding, and SEMB will provide technical support for the solar power plant and other RE projects in Malaysia.

The success of these projects will put WREA in a good position to be a renewable energy project owner, which will generate positive cash flow and a sustainable recurring income stream for FIHB.

The pivot into the renewable energy segment for FIHB marks a step-up for the company with a solid financial track record in the furniture and construction business.           

Source: NST

Federal International partners with China’s SPIC to venture into the RE sector

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Melaka Waterfront Economic Zone (M-WEZ) will prove to be a “big move” and a game changer for the state’s development over the next 25 to 30 years, Chief Minister Datuk Seri Sulaiman Md Ali said.

Sulaiman (BN-Lendu) said the project has the potential to strengthen Melaka as a tourism-based state with the integration of new features such as an international tourism centre, a smart city-based commercial centre, Industrial Revolution 4.0, a marina logistics centre, a modern lifestyle cultural centre, and more.

“Generally, the economic corridors established in the various states emphasise promoting a balanced and equal economic development in the country.

“We realised that Melaka was not included in any of the nation’s existing economic corridors such as Iskandar Development Region (Johor), Greater Kuala Lumpur/Klang Valley, Northern Corridor Economic Region, East Coast Economic Region and Malaysia Vision Valley (Negri Sembilan),” he said.

The chief minister said this at the tabling of Melaka Waterfront Economic Zone Corporation Bill 2021 for the second reading at the state legislative assembly in Seri Negeri Complex here today.

Sulaiman said the M-WEZ development would complement existing economic regions and improve the socio-economic status of the local people.

He said the creation of M-WEZ has taken into account waterfront development examples in other places such as Dubai, Hong Kong, and Toronto, Canada.

“Overall, M-WEZ is focusing on waterfront development in the existing reclaimed sea area of 10,117.14 hectares starting from Pantai Puteri to Umbai along 33km of the coast of Melaka.

“Of this total area, 3,035.14 hectares have been designated as controlled zones while the remaining 7,081.99 hectares are development zones that will be the ‘economy enabler’ for Melaka,” he said.

Sulaiman said the state government is also aiming for high impact investments worth RM100 billion through the establishment of M-WEZ which would expand the state’s gross domestic product (GDP) by five per cent or RM2 billion annually.

“M-WEZ is also expected to create 5,000 new job opportunities annually and contribute to the increase in income for the local people,” he added.

The sea reclamation project is also anticipated to reduce the impact of urbanisation following a sharp increase in the state’s urbanisation rate to 95 per cent in 2020 compared to 23 per cent in 1980.

“With limited land for development land, the population density of Melaka was ranked sixth highest at 544 people per square kilometre compared to other states in Malaysia.

“It clearly shows the need for the state government to find new alternative sources to accommodate the population density for long-term planning by focusing on the waterfront economic development, which only made up a reclamation ratio of 2.16 per cent compared to the total 2,270 square km land area in Melaka,” he said.

The motion was supported by State Works, Transport, Public Facilities and Infrastructure Exco Datuk Roslan Ahmad (BN-Merlimau) and debated by opposition leader Adly Zahari (PH-Bukit Katil), Datuk Hasan Abd Rahman (BN-Sungai Rambai), Low Chee Leong (PH-Kota Laksamana) and Datuk Zaidi Attan (BN-Serkam).

The bill was approved after receiving 16 votes in favour compared to 11 votes against while one state assemblyman was absent.         

Source: Bernama

Melaka Waterfront Economic Zone a game changer for state’s development, says CM

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Solarvest Holdings Bhd is planning further diversification in the solar energy business as the clean energy specialist seeks to grow in the midst of prolonged uncertainty.

Its group chief executive officer Davis Chong said this includes moving more aggressively into solar energy investments that Solarvest is working on as well as leveraging Powervest, its all-new solar financing programme, which will strengthen its position in the solar energy market.

“Continuing the explorations into large-scale solar (LSS) farm projects will probably strengthen our position as well, and to work in Vietnam, the Philippines and Taiwan markets in asset ownership are also one of the things.

“But we are [also] looking into further involvement in the clean energy value chain that will give more space for Solarvest to expand,” he said at a virtual press conference on Wednesday.

Chong noted that Solarvest has a strategic plan on how it is going to be involved in different value chains in clear energy distribution but is unable to elaborate further.

“That is what we are working on but I can’t reveal right now because it is a strategic plan for the group. [However], you would see after this where the diversifications that we are planning in the clean energy industry [are],” he said.

Looking ahead, Chong said the outlook for the solar photovoltaic (PV) industry in Malaysia remains optimistic given that the government is committed to supporting the growth of the PV solar industry, where renewable energy is targeted to contribute 31% to the national capacity mix by 2025.

“We don’t see any issue on the market growth for up to 2025. [Also], we see the next LSS is coming and we see the Net Energy Metering (NEM) 3.0 takeup rate is so encouraging.

“[However], a little bit of an issue that we are talking to the new government [about] right now is what is the next NEM program that we are looking forward to. I do believe they are in a plan to replenish the rooftop NEM program or come up with something different that would continue to grow for the solar rooftop industry in Malaysia,” he said.

According to Chong, Solarvest’s current outstanding orderbook stood at about RM583 million in Malaysia, comprising the LSS (RM371 million), and commercial and industrial (RM212 million) projects.

He added that the group was tendering between RM400 million and RM500 million work of projects in the pipeline domestically for the commercial and industrial project, prior to the launch of the Powervest programme.

“We expect to close about RM200 million worth of deals annually. We also have expansion plans in Taiwan, Vietnam, and the Philippines,” he said, adding that the group has over RM1 billion worth of tenderbook.

Chong said Solarvest also targeted about 20MW to 30MW installation per year and it could reach up to 100MW for the solar rooftop market in Malaysia. However, he said this would depend on the government’s policy and the tariff as the company continues to invest in different markets for both commercial and industrial segments.

On updates of Solarvest’s overseas regional businesses, namely in Taiwan, the Philippines and Vietnam, Chong said operation setups were delayed due to the pandemic. 

Notwithstanding that, Chong noted Solarvest is exploring utility and sport market projects in the Philippines.  As for Taiwan, Chong said Solarvest is building more pipelines right now with the local partners on which it will be announcing some developments in the very near term and this goes the same with Vietnam.

“The pandemic is slowing us down for the overseas expansion activities but fortunately, the domestic market with the LSS programme has been encouraging and it keeps us busy for the moment despite the international constraint for regional expansion… before we go back to the normal business expansion plan that we targeted [earlier],” he said.

Chong foresees the group’s regional expansion to get back on track next year for Taiwan, while there will be some progress in the Philippines and Vietnam at the end of 2022.

Meanwhile, Solarvest expects to gradually garner about 30% of the group’s recurring income from owning the solar assets and other contracts with different programmes within three to five years.

“30% of recurring income includes LSS, corporate leasing via the programmes. Currently, the contribution to the group is negligible and the increase will only come once the LSS project comes on stream by 2023,” he said.

Solarvest’s share price closed unchanged at RM1.29 on Wednesday, valuing the group at RM856.5 million. In the past one year, the stock has risen by 65.38%.       

Source: The Edge Markets

Solarvest aims to shine brighter in solar energy biz

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Scomi Group Bhd said its wholly-owned Scomi Capital Sdn Bhd (SCSB) has entered into a memorandum of understanding (MOU) with ODESI eCOB Sdn Bhd to explore opportunities to develop an urban solar programme to sell and purchase electricity generated from solar photovoltaic systems.

In a filing, it said the sale and purchase of electricity will be done under a power purchase agreement (PPA) or supply agreement with renewable energy (SARE) on a zero-capital expenditure model, meaning that the cost of generation will be borne by the seller of electricity with no cost to the purchaser.

“The objective of the urban solar programme is to promote the use of renewable energy in facilities under the jurisdiction of state governments, city councils, joint management companies and property owners with the aim of achieving energy savings benefit for the customer,” said Scomi.

ODESI is engaged in the business of providing IT solutions to the strata industry, with a vast network of customers including state governments, city councils, joint management bodies, management corporations, property developers and property management companies.

During the tenure of the MOU, the parties will work together to secure business opportunities, including preparing and submitting tenders or bids on a joint and/or separate basis for PPAs or SAREs with customers.

In the event of a successful tender, the parties will enter into a separate contractual agreement.

“The parties are desirous to leverage off ODESI’s vast network in the strata industry with its customers and SCSB’s expertise in the business of investment, development and operation of solar concessions,” it said.

Scomi closed unchanged at three sen, giving a market capitalisation of RM32.82 million.         

Source: The Edge Markets

Scomi partners ODESI to explore development of urban solar programme

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