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Malaysia seeking cooperation with Saudi on renewable energy, hydrogen — Anwar

Prime Minister Datuk Seri Anwar Ibrahim expressed on Tuesday, Malaysia’s preparedness to explore new areas of cooperation with Saudi Arabia, in line with the kingdom’s Vision 2030, especially in the fields of renewable energy and hydrogen.

In addition, Anwar, who is also the finance minister, welcomed Saudi Arabian investors to Malaysia to explore potential investments in high-value projects.

He conveyed this when he was granted an audience with Saudi Crown Prince and Prime Minister Mohammed bin Salman at the Yamamah Palace in Riyadh, prior to his return to Malaysia, after attending the World Economic Forum (WEF) Special Meeting which ended on Monday (April 29).

“Our discussion also touched on trade and investment relations between both countries.

“I also welcome investors from Saudi Arabia to Malaysia to explore potential investments in high-value projects such as digital and green economy, artificial intelligence (AI), clean energy, defence, electrical and electronics, and aerospace,” he said in a post on X here on Tuesday.

Anwar also announced that Malaysia is prepared to chair Asean next year, including hosting the Asean Gulf Cooperation Council-China Summit.

“Towards the end of the meeting, I reiterated my invitation for the Crown Prince to make an official visit to Malaysia at his earliest convenience.

“I believe this visit has further enhanced the strong relations between Malaysia and Saudi Arabia, as well as opening various investment potentials that would contribute to the prosperity of Malaysians, God willing,” he added.

Source: Bernama

Malaysia seeking cooperation with Saudi on renewable energy, hydrogen — Anwar


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HAVING identified artificial intelligence (AI) opportunities in Malaysia, SNS Network Technology Bhd now expects a meaningful contribution from its newly ventured data centre fit-out business segment.

Besides selling AI super servers, the ICT system and solutions provider is also involved in testing and commissioning as well as operation and management within the premises of data centres. In short, SNS fills the gap between server manufacturers and server buyers.

The group believes its financial performance will be lifted by the sale of AI super servers based on the selling price of RM1.5 million per unit and a gross profit margin of 15%, which is higher than its existing core business’ gross profit margin of about 5%.

“This is a game changer for SNS, and it’s a new playground. Generative AI is at the beginning of a supercycle,” co-founder and managing director Ko Yun Hung tells The Edge in an interview.

With more data centres being set up in the country, especially in Johor, he believes there will be growing demand for AI super servers. “We are seeing a lot of potential from this, for the enterprise segment,” he shares, noting that several tech firms have expressed interest in these servers.

As cost will be one of the challenges in adopting AI, Ko says SNS can play a role in helping clients navigate the AI journey. “Some customers may not want to worry much about the whole AI journey, so they can just subscribe to our services [instead of buying the super servers]. And the service, maintenance and warranty will be taken care of by us.”

He is of the view that SNS will be able to fend off market competition given its multi-channel and multi-brand strategy. Furthermore, the additional services could fetch better margins for the group.

“If you just sell the hardware, it will be about a 5% to 10% gross profit margin,” Ko says. In comparison, the traditional consumer devices business offers a gross profit margin of about 5%.

Headquartered in Ipoh, Perak, SNS started out in 1998 assembling and supplying desktop and related peripherals mainly to schools and cafés. Over the years, it expanded with the sale of ICT products becoming its core business, along with the provision of ICT services and solutions, device repair and related services, and sale of broadband services.

The group sells ICT products through physical and online stores, namely SNS’ own retail stores iTworld, GLOO and Notebook Plaza, as well as third-party marketplaces, while its commercial channel targets businesses, government agencies and educational institutions.

The ICT products sold include Apple, Intel and Samsung. SNS also established an in-house brand JOI of ICT products in 2014, collaborating with Intel and Microsoft.

SNS debuted on the local bourse in September 2022, raising RM90.72 million. Year to date, its share price has gained 56.3% to close at 37.5 sen last Wednesday, valuing the company at RM604.8 million. The stock is also up 50% compared to its initial public offering (IPO) price of 25 sen.

Of its IPO proceeds, RM28.5 million remained as at Jan 31.

For the financial year ended Jan 31, 2024 (FY2024), SNS’ net profit fell 27% to RM31.96 million from RM43.72 million a year ago, partly due to fewer orders from its customers. Revenue slipped 9% to RM1.28 billion from RM1.4 billion the previous year.

Meanwhile, net margin slipped to 2.5% in FY2024 from 3.1% in FY2023.

The commercial channel was the largest contributor to group revenue at 82%, followed by online stores (9%), physical stores (8%) and services (1%).

The bulk of its revenue — close to 99% — was derived from the sale of ICT products comprising hardware, devices and related peripherals, while the remaining came from the provision of device repair and related services, as well as sale of broadband services.

Ko acknowledges that the retail market was not exciting last year, but the situation is expected to improve this year, underpinned by demand for devices, digital transformations and AI adoption.

“The e-commerce segment is already seeing a U-shaped recovery. We are seeing a lot of opportunities, for example government contracts, as it is about time to upgrade the current devices,” he says.

Last October, SNS announced that it is partnering with Seagate Technology to provide enterprise data storage solutions in Malaysia. In February this year, the group secured a contract from Esri Malaysia Sdn Bhd to offer geographical information system solutions for an undisclosed value.

On plans to open 10 retail stores within three years from its IPO using part of its listing proceeds, Ko says the group is sticking to the target and may look to expand to East Malaysia, apart from the Klang Valley, Johor and Penang.

“We are looking at about RM2.5 million to open 10 stores. So far, we haven’t utilised the fund because the market is not very encouraging,” he explains.

“We open retail stores because we want to provide a complete customer buying experience. Sometimes they want to have a retail place where they can explore. And then later on, when the company wants to buy something, we also have our commercial team to support them.”

Currently, it operates 60 brand stores, seven multi-brand concept stores and 12 consignment counters in Malaysia.

SNS is awaiting the Securities Commission Malaysia’s approval for its proposed transfer of listing status to the Main Market from the ACE Market of Bursa Malaysia, after it met the requirement of having an aggregate net profit of at least RM20 million for the past three to five full financial years, with a net profit of at least RM6 million for the most recent financial year.

The transfer listing is expected to be completed by the second half of the year.

Its net cash position improved to RM89.1 million as at end-January 2024, from RM69.73 million as at end-October 2023. It had gross borrowings of RM32.38 million as at end-January 2024, with a gearing ratio of 0.13 times.

SNS does not have a dividend policy, but it hopes to maintain a dividend payout ratio of about 30%-40%. In FY2024, it paid 0.75 sen dividend per share or a total payout of RM12.1 million, equivalent to a dividend payout ratio of 38%.

Ko and executive director Kelvin Pah Wai Onn each own 32.67% of the company, while executive director Siow Wei Ming holds a 7.33% stake.

Premised on the ongoing AI frenzy, Rakuten Trade gave SNS a “buy” call with a target price of 54 sen based on FY2025 price-earnings ratio (PER) of 15 times, which it says are in line with the company’s industry peers.

The research house expects SNS’ FY2024-FY2027 earnings to grow at a robust compound annual growth rate of 39% driven by new AI server sales and continued growth in its existing ICT business, fuelled by consumer device refresh cycles and ongoing digital transformation in education and commerce.

“In addition, SNS maintains a solid balance sheet, with a gearing ratio of 0.13 times as of 4QFY2024. Coupled with 3% FY2025F dividend yield, SNS is currently an attractive proposition at 11 times FY2025F PER,” it says in an April 15 note.

According to Rakuten Trade, Malaysia currently hosts over 40 operational data centres, with the capacity ranging from 100mw to 150mw each. However, upcoming data centre projects indicate an anticipated additional capacity of 1,400mw over the next five to 10 years, driven by low land and energy costs.

“Considering that each GPU (graphics processing unit) server can only support 10kW of data centre usage, the potential for SNS to seize opportunities in this expanding market is significant,” it highlights.

Source: The Edge Malaysia

SNS Network aims to tap country’s data centre boom through new venture


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Tex Cycle Technology (M) Bhd said on Monday it has partnered with Evolusi Bersatu Sdn Bhd to invest RM100 million in Sabah’s first integrated scheduled waste management facility.

The facility is expected to start construction in the second half of this year and will be fully operational by the fourth quarter of 2025, Tex Cycle said in a statement.

The project is designed to complement existing scheduled waste management providers, it added.

When contacted, Tex Cycle’s management told The Edge that Tex Cycle will hold a 51% stake in the joint venture (JV), while Evolusi Bersatu, an oil and gas services firm, will own the remaining 49%.

“It also aligns with Sabah’s broader efforts in creating over 150 job opportunities and conserving our natural resources,” said Muhamad Tolling, managing director of the JV company Tex Evolusi Waste Management.

Sabah Chief Minister Datuk Seri Hajiji Noor said this facility represents a significant step in the journey towards a cleaner and more sustainable Sabah, and he believes this will attract more foreign investors who share environmental, social, and governance value.

As opposed to sending wastes to Peninsular Malaysia for processing, the facility prioritises a locally centred waste treatment process, aiming to reduce costs and emissions while ensuring legal compliance and environmental responsibility.

“Additionally, the facility is tailored to serve various industries and offers comprehensive waste management solutions, especially in the oil and gas sector,” the company said.

Datuk Keh Chuan Seng is the largest shareholder in Tex Cycle with a 26.436% stake, held via his private vehicle Frazel Group Sdn Bhd. He was appointed as the group’s executive chairman in May last year after emerging as its substantial shareholder.

Tex Cycle’s executive director Lee Hai Peng also surfaced as the group’s substantial shareholder in May last year, with a 5.129% equity interest.

Their blocks of shares were acquired from Tex Cycle’s previous major shareholder Can Cycle Sdn Bhd, which disposed of its entire 31.565% stake, or 80 million shares.

Klang-based Can Cycle is a private vehicle jointly owned by low-profile businessman Ho Siew Choong and his brothers Ho Siew Cheong and Ho Siew Weng, as well as Periasamy Sinakalai, better known as S Perry.

The 53-year-old Keh is also the executive chairman of stainless steel maker K Seng Seng Corp Bhd. His private entity Frazel Group owns 22.98% of the company, being the second-largest shareholder after Singaporean Cheong Lai Sin (27.43%).

Keh began his career in real estate development in Japan. During his tenure there, from 1991 to 2005, he was involved in local and international property development, as well as the hospitality, agriculture, asset management and financial industries.

Meanwhile, 58-year-old Lee is a non-independent, non-executive director of Solarvest Holdings Bhd and an executive director of K Seng Seng Corp. He joined Chin Hin Group Bhd in 2008 as group accountant, before being promoted to group financial controller the following year. He was made executive director in 2015, a position he held until December 2022. 

On Monday, Tex Cycle’s share price closed up four sen or 3.6% higher at RM1.14, valuing the waste management and recycling company at RM292 million.

Year to date, the stock has gained 65% from 69 sen on Jan 2.

Source: The Edge Malaysia

Tex Cycle in JV to invest RM100m to build Sabah waste management facility


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TotalEnergies, a global energy supplier company based in France, has stated its commitment to increasing its investment in Malaysia’s upstream oil and gas (O&G) sector, said Prime Minister Datuk Seri Anwar Ibrahim.

In a post on X today, he said TotalEnergies also plans to continue exploring opportunities in the carbon storage field in Malaysia.

Earlier, Anwar met with TotalEnergies chief executive officer and chairman Patrick Pouyanne on the sidelines of the World Economic Forum (WEF) Special Meeting in Riyadh, Saudi Arabia.

The Prime Minister arrived in Riyadh on Saturday for a three-day working visit during which he will take part in the three-day WEF special meeting.

“TotalEnergies was established in 1984 in Malaysia and has investments in various sectors in the country including renewable energy, electricity, oil and carbon storage.

“Hopefully, this investment can be realised as soon as possible and trigger an overflow of prosperity for Malaysians, especially in creating more job opportunities and knowledge sharing,” said Anwar, who is also the Finance Minister.

Recently, TotalEnergies signed an agreement with Sapura Upstream Assets Sdn Bhd (SUA) to acquire its 50 per cent interest in Malaysian independent gas producer and operator SapuraOMV Upstream Sdn (SapuraOMV) for US$530 million (US$1=RM4.77), subject to closing adjustments.

SapuraOMV’s main assets are its 40 per cent operated interest in block SK408 and 30 per cent operated interest in block SK310, both located offshore Sarawak, Malaysia.

SapuraOMV also holds interests in exploration licences in Malaysia, Australia, New Zealand and Mexico, where a discovery was made in 2023 on block 30.

TotalEnergies owns interests in two production sharing contracts (PSCs) in the exploration phase and in June 2023 signed an agreement with Petronas and Mitsui to develop a carbon storage project in Southeast Asia and evaluate several CO2 storage sites in the Malay Basin.

Source: Bernama

TotalEnergies states commitment to increase investment in Malaysia’s upstream O&G sector – Anwar


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Malaysia aims to increase investments in research and development (R&D) to be on par with developed countries that have successfully leveraged R&D to improve their global competitiveness, said Science, Technology and Innovation Minister Chang Lih Kang.

According to him, Malaysia’s R&D investments still lag behind developed countries such as South Korea, Japan and Singapore.

To close the gap, the MADANI Economy agenda had set a target for the country to achieve a gross expenditure on R&D (GERD) of 3.5 per cent of gross domestic product by 2030 to ensure strong economic development in the long term, he said in his keynote address at the MIMOS Technology Preview (MTP) 2024 here today.

“Increased investments in the R&D sector can lead to higher productivity, create highly skilled jobs, and increase the country’s economic value.

“Additionally, it stimulates innovation in key sectors, namely biotechnology, renewable energy, and digital technology, which will help to address current challenges such as food security and climate change,” he said.

Chang said MIMOS, as the country’s leading R&D agency, had a role in supporting the GERD target of 3.5 per cent.

“To reach the objective, MIMOS is carrying out strategic initiatives such as collaborating with industry leaders to develop and use new technologies that meet global energy demand, as exhibited at MTP 2024 today,” he said.

The minister said the collaboration not only spurred technological advancement but also ensured that R&D results have practical applications, thus being able to be commercialised and provide benefits to society.

He said that MIMOS aimed to commercialise 20 R&D projects by the end of 2025.

Chang said 15 technologies were developed during the 12th Malaysia Plan, which were exhibited at MTP 2024.

During today’s event, MIMOS was scheduled to ink a memorandum of understanding with Axicom and Iscada Net (iS.net), as well as a technology licence agreement with SquareCloud to implement MIMOS autonomous chiller control and energy efficiency (Mi-Ace) system technology in government and commercial buildings.

The Mi-Ace system was developed with SquareCloud, utilising artificial intelligence technology and wireless Internet of Things (IoT) to revolutionise building cooling systems that include offices and public spaces.

The system is able to improve cooling performance, achieving energy savings of 12 per cent to 20 per cent by analysing sensor data to optimise operation while ensuring comfort.

The new solution makes the installation process easier and significantly improves the building’s energy management.

Also present at today’s event were Ministry of Science, Technology and Innovation secretary-general Datuk Aminuddin Hassim and MIMOS acting president and chief executive officer Saat Shukri Embong.

Source: Bernama

Malaysia targets higher R&D investments to be on par with developed countries


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Saudi Arabia-based renewable energy giant ACWA Power has disclosed plans to collaborate with several strategic Malaysian partners in developing renewable energy projects across multiple states in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

In a recent Facebook post following his meeting with ACWA Power chairman Mohammad A Abunayyan and the company’s senior management representatives on Monday afternoon, Anwar said the company also presented its investment proposals, including collaboration in developing several energy projects in Terengganu, Kelantan, Perlis, Sarawak, and Johor.

“I had expressed my appreciation for ACWA Power’s commitment to increasing its investments in Malaysia, and that the country always welcomes any efforts to bolster the nation’s economic growth and the people’s prosperity,” he said.

During the meeting held on the sidelines of the World Economic Forum Special Meeting here on Monday, Mohammad A Abunayyan also disclosed the company’s intention to invest over US$10 billion (RM47.64 billion) in Malaysia over a span of 10 years.

Among the proposed projects are those to be undertaken through collaboration with a local company, Cypark Resources Bhd.

Anwar, who is also the finance minister, said that the Madani government would continue to implement investment-friendly policies by focusing on initiatives to ensure that every investment process is facilitated and expedited.

Foreign Minister Datuk Seri Mohamad Hasan and Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz were also present in the meeting.

Source: Bernama

ACWA Power eyes collaboration with strategic M’sian partners on renewable energy projects, says Anwar


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Saudi Arabia-based renewable energy giant ACWA Power has expressed interest in investing more than US$10 billion (US$1=RM4.77) in Malaysia over a 10-year period.

Among the proposed projects are those to be undertaken through collaboration with a local company, Cypark Resources Bhd.

This was conveyed by ACWA Power chairman Mohammad A. Abunayyan when he paid a courtesy call on Prime Minister Datuk Seri Anwar Ibrahim on the sidelines of the World Economic Forum (WEF) Special Meeting here today.

Also present during the half-an-hour call were Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz as well as the senior management of Bursa Malaysia-listed renewable energy firm Cypark Resources and its major shareholder, Jakel Group.

Cypark Resources executive chair Datuk Ami Moris said the collaboration in the renewable energy project is in the final stages of discussion and is expected to be finalised by the end of this year.

“ACWA Power, one of the world’s largest renewable energy companies, is keen on investing in Malaysia, implementing technology transfer and sharing its renewable energy expertise for industrial parks in Jasin, Melaka, and Kerian, Perak, to power up green data centres,” she told reporters after the meeting.

Jakel Group managing director Datuk Seri Mohamed Faroz Jakel said Jakel Capital, which is Cypark Resources’ biggest shareholder, will also be involved in the renewable energy project.

“We came to Riyadh to discuss how to implement the collaboration and Jakel also has several large parcels of land that can be developed into solar farms to supply energy to Cypark,” he said.

On the final day of the WEF Special Meeting today, Anwar is also scheduled to hold bilateral meetings with his Pakistani counterpart Muhammad Shehbaz Sharif and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani.

Anwar also received a courtesy call from Turkiye’s Foreign Affairs Minister Hakan Fidan.

The two-day WEF Special Meeting, themed “Global Collaboration, Growth and Energy for Development”, was attended by more than 1,000 participants including heads of state as well as business and industry leaders.

Source: Bernama

Saudi-based ACWA Power keen on investing over US$10b in Malaysia


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Iconic Worldwide Bhd is engaged in preliminary discussions with potential partners to develop mega townships and industrial projects throughout Malaysia. 

The group is also exploring avenues to establish resorts, villas, and theme parks, with the aim of bolstering tourism in Penang and leveraging the island’s distinguished reputation as a top-tier global tourist destination.

These developments are integral components of the group’s comprehensive strategy to fully capitalise on the potential within its property development and hospitality management ventures. 

This strategic direction is being guided by the leadership of the new controlling shareholder and executive chairman, Datuk Seri Tan Kean Tet.

Tan expressed confidence in the future prospects of the real estate and hospitality sectors in Penang, citing substantial growth in tourism and the commencement of significant infrastructure projects this year, such as the Penang LRT and the expansion of the Penang International Airport (PIA). 

He remains steadfast in his belief that the future holds promise for real estate and hospitality in Penang.

“As we embark on our next chapter with a renewed focus on property development and hospitality management, we will make bigger and bolder bets that will accelerate our growth and leave an indelible mark on the real estate industry. We are determined to turn around the group and explore opportunities to expand our business.

“On the property side, we have begun early discussions with potential partners to explore opportunities to develop mega township and industrial real estate projects in Malaysia. I believe that demand will only grow for these projects due to Malaysia’s unique appeal as a destination for foreign direct investments (FDI) and domestic direct investments (DDI),” he said.

Tan said the implementation of visa-free travel for tourists from China and India has delivered a positive impact on the local tourism industry, which will support the growth of the group’s hospitality business.

In addition, the expansion of PIA’s capacity from 6.5 million to 12 million passengers a year, slated for completion in three to four years, will deliver a major boost to the local tourism industry. 

“This is a major, catalytic infrastructure project that I believe the market has yet to appreciate,” he said in a statement.

Tan, who was previously a major shareholder of Iconic, is now a controlling shareholder of the group. This is following the group’s successful corporate exercise that raised RM95.6 million via an oversubscribed rights issue, which raised his stake to 36.59 per cent.

Iconic plans to utilise 41.6 per cent of the RM95.6 million gross proceeds to acquire a parcel of freehold, vacant land measuring 15 acres in Paya Terubong, Penang Island.

“The group will submit a proposal to the Penang state authority for planning permission to construct a residential development on this newly acquired asset. It is expected that the gross development value (GDV) of this project will be more than RM300 million,” he said.

In a further boost to the group’s hospitality segment, in the fourth quarter of this calendar year, Iconic will start to manage the Iconic Regency, a serviced apartment in Sungai Nibong. The 42-storey Iconic Regency, one of Penang’s tallest residential towers, comprises 268 serviced apartments with built-ups ranging from 500 sq ft to 850 sq ft. 

Source: NST

Head of Iconic Worldwide keen to develop theme parks, resorts, townships


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Malaysian enterprises are encouraged to prioritise responsible Artificial Intelligence (AI) to fully tap into the potential benefits of generative AI and its innovations, according to the AI and analytics platform provider, SAS Institute Inc.

Amir Sohrabi, SAS regional vice president and head of digital transformation for Emerging Europe, Middle East and Africa (EMEA), and Asia, said it is important for business leaders to prioritise responsible AI, whether they are already implementing AI use cases or are still in the planning phase.

He said organisations need to recognise that ensuring responsible AI is a collective responsibility involving all stakeholders in an AI system.

“(Effective) oversight must be spearheaded by the executive management team, focused on ensuring that responsible and trustworthy AI is the top priority for everyone.

“By closely monitoring and auditing AI operations, organisations can quickly identify and address any issues, thereby proactively mitigating concerns before they escalate,” he told Bernama.

Citing the MyDigital report, Amir said that the generative AI has the potential to unlock US$113.4 billion (US$1=RM4.76) in productive capacity in the Malaysian economy, equivalent to one-quarter of gross domestic product in 2022.

The Malaysian government has also planned to introduce a framework for governing AI and establishing ethical guidelines, given the increasing adoption of AI by various organisations.

These regulations aim to promote innovation by creating a conducive environment, addressing risks, and promoting ethical and responsible AI use, he said.

Amir further highlighted that responsible AI practices enhance human well-being, safeguard personal data, and avoid discrimination — the foundation for these features lies in transparency and accountability, but unfortunately, many organisations deploying AI systems struggle to uphold these principles.

He stressed the utmost importance of not underestimating the significance of implementing AI in a responsible, ethical, and secure manner, especially given the accelerating adoption rate.

“Taking proactive measures will not just reduce risks but also enhance cyber resilience — ultimately positioning Malaysian organisations to thrive in the AI era,” he added.

Source: Bernama

Malaysian enterprises urged to make AI a top priority – SAS Institute


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Sarawak plans to replace the use of coal at the Sejingkat and Balingian power plants with biomass, in line with the state’s efforts to develop clean and sustainable energy, says Datuk Patinggi Tan Sri Abang Johari Openg.

Speaking to reporters after gracing the national-level World Water Day celebration at Kuching Waterfront yesterday, the Sarawak Premier said doing so would not only reduce carbon emission but also provide economic benefits.

He cited the Drax facility in the United Kingdom, which he visited recently during an official trip to the UK, as an example of a power plant successfully transitioning from coal to biomass as a source of energy.

“At Drax, they previously used coal but have now replaced it with biomass. The investment (to change) is not high because the system is very similar.

“This is what we want to use for Sejinkat and Balingian. We want to decommission coal. I have calculated that we can use our biomass to generate power,” he said.

Abang Johari explained that switching from coal to wood waste could generate power exceeding 500 megawatts.

“Now we only need to strengthen the boiler and also from the point of view of the motor machine, and this will enable Sejingkat (plant) to generate even up to one gigawatt,” he said.

Touching on his visit to the Drax power station, the Premier said the insight he gained has provided him a valuable framework in further developing the state’s renewable energy sector, adding he will discuss this with state utility company Sarawak Energy Berhad.

He also expressed happiness that the European community has recognised Sarawak’s role in addressing climate change.

“We will share the technology we have in renewable energy production including biomass,” he said.

Separately, Abang Johari said the implementation of cascading dams in the hinterland will be carried out elsewhere if the local population objected to it.

“If they disagree, the government will move (the project) to another area. If they feel suspicious, we will go to another place where the people want (the project to be implemented).

“Now we are implementing the project near Sungai Kanowit and Song. In Kapit, they want this cascading source, and we have a new technology that I mentioned as a tank elevator.

“This depends on the theory of gravity, which means that the flow of water can generate energy,” he said.

Also present at the event were Deputy Prime Minister Datuk Seri Fadillah Yusof, Deputy Premier Datuk Amar Dr Sim Kui Hian, State Secretary Datuk Amar Mohamad Abu Bakar Marzuki, Minister of Utility and Telecommunication Datuk Sri Julaihi Narawi and his deputy minister Datuk Liwan Lagang, and Fadillah’s deputy minister Akmal Nasrullah Mohd Nasir.

Source: The Borneo Post

Premier: Sarawak to replace coal with biomass at Sejingkat, Balingian power plants


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Majuperak Holdings Bhd (MHB) will collaborate with Shizen International Inc to explore the development of a solar photovoltaic (PV) project to expand Perak’s clean energy technology usage.

Menteri Besar Datuk Seri Saarani Mohamad said the project is likely to be developed on land and water.

“This collaboration is based on two objectives — to explore the development of solar PV projects on land, and to assess potential water sites for floating PV projects in Perak.

“This collaboration is also in line with Perak’s determination to develop green technology and efforts to attract investment through the Flagship Programme 12: Water Resources and Renewable Energy Resources,” he said in an MHB statement.

Earlier, MHB group chief executive officer Syed Agil Syed Hashim and Shizen International CEO Rei Ushikubo signed a memorandum of understanding (MOU).

Saarani and Perak State Development Corporation chief executive Datuk Redza Rafiq Abdul Razak, who is also MHB’s executive chairman, witnessed the signing.

The state government welcomes local or foreign companies interested to invest in Perak, Saarani said.

Meanwhile, Redza Rafiq said he welcomes Shizen International’s cooperation and international experience in the field.

“We anticipate great progress from the MOU, because we are prepared to intensify the generation of renewable energy in Perak,” he said.

He said the initiative is also in line with the National Energy Transition Roadmap, which seeks to increase sustainable energy generation in the country.

Source: Bernama

Majuperak, Shizen International to explore solar PV development in Perak


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Daiso Malaysia Group Sdn Bhd’s new Global Distribution Centre in Malaysia is set to be its largest warehouse in the world and is projected to have a net positive on the country’s logistics sector.

According to Deputy Transport Minister Datuk Hasbi Habibollah, the centre is expected to handle an annual volume of 9,317 containers of outbound shipments in the future and the strategic location of Port Klang will enable the franchise to have better efficiency in its global supply chain, serving demand in Asia, the Americas, the Middle East, Australia,and New Zealand.

“Daiso will bring in the automated storage and retrieval systems in the new global distribution centre, and I believe the transfer will not only foster opportunities for local businesses but will also empower logistics services providers with advanced tools and methodologies, revolutionising their operations and optimising supply chain management,” Hasbi said at the site officiating ceremony today.

He added that the centre is expected to be built and start operations in January 2027, spanning about 1.7 million sq ft and will be even larger than any Daiso regional distribution centres in Japan.

With a substantial investment of RM1 billion, he said, the investment will enhance the country’s global logistics capabilities, aiming to serve 22 countries and regions strategically.

“With increased investment and job creation, we anticipate a surge in demand for goods and services, boosting sales and revenue to businesses. The growth of Daiso’s business will further stimulate local economic development by creating a demand for local suppliers, contractors, and service providers, fostering economic growth throughout the region,” he added.

Hasbi said the presence of the centre in Malaysia symbolises a partnership that will enhance the capabilities of local companies and open doors to new business opportunities as well as strengthen the bonds between the franchise and local businesses, forging relationships that will be mutually beneficial.

“As we look ahead, the government remains steadfast in its commitment to fostering a conducive business environment for the logistics services sector. By promoting innovation, investing in human capital development, and strengthening regulatory frameworks, we aim to elevate further Malaysia’s position as a premier logistics hub in the region,” he remarked.

The centre was developed in partnership with Daiso and Kajima-SunCon joint venture, represented by Kajima (Malaysia) Sdn Bhd and Sunway Construction Sdn Bhd.

The centre is set to handle a diverse range of products, including kitchen tools, cleaning supplies, personal care items, stationery, and more, totalling about 35,000 stock keeping units.

Source: The Sun

Daiso’s global distribution centre in Malaysia is its largest warehouse in the world


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The Ministry of Investment, Trade and Industry (MITI) announced today that of the RM144.7 billion approved digital investments between 2021 and 2023, data centres make up RM114.7 billion, creating 39,231 job opportunities.

Its minister Tengku Datuk Seri Zafrul Abdul Aziz said that in 2021 the approved investments were RM3.4 billion, RM80.8 billion in 2022 and RM60.5 billion last year coming from various organisations including Amazon, GDS, YTL and ByteDance.

While approved investments are vital to build up the momentum, he said MITI also gives strong focus on realised investments.

He said that from 2021 to February 2023, there were 2,386 manufacturing projects approved by the National Committee on Investments. From the 1,802 or 75.5 per cent of the projects implemented, 1,597 projects were at the inception stage and 205 are at the construction of buildings or manufacturing facilities stage.

Out of the approved projects, 551 (23.1 per cent) were in the planning stage, while 33 or 1.4 per cent were not implemented due to a change in the respective companies’ strategy, said Tengku Zafrul at the press conference to announce MITI’s first quarter report card here today.

The ministry, he said, will continue to focus on both domestic and foreign direct investments.

As for the performance of the Project Implementation and Facilitation Office (TRACK), he said a total of 802 cases facilitated since its establishment with key issues linked to Customs, power supply, one stop centre -local council and immigration.

On the trade outlook, Tengku Zafrul said trade is set to improve in 2024, but challenges remain amid geopolitical uncertainties.

Source: Bernama

Data centres make up the bulk of RM144.7b in approved digital investments


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Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.

In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.

“The 100MW project has achieved initial operations as of April 21, 2024. With the initial operations completed, the plant will transition to full commercial operations over the next two weeks,” it said.

Cypark executive chair Datuk Ami Moris said in the statement that the group remains confident in becoming a leading Malaysian energy provider, especially with the next delivery of its LSS2 floating solar project of 60MWac in Kelantan.

In an interview with The Edge last year, she said both the LSS2 and LSS3 projects are 21-year concession assets that would generate recurring revenue streams for the group.

The LSS2 project’s completion date was previously postponed by nine months to September 2022 from end-2021, while the LSS3’s completion had been pushed to end-2022 from March 2022.

Last month, the group deferred a periodic distribution of coupon payments under a RM500 million perpetual sukuk programme to prioritise funds to complete the LSS2 and LSS3 projects. At the time, Cypark gave its assurance that the company had sufficient cash flow to achieve the delivery of its ongoing projects, following Jakel’s subscription of RM265 million sukuk, as well as available banking facilities from its principal bankers. 

“The Jakel group as the new major shareholder has successfully provided a needed boost of both capital and project management expertise, while our reconstituted board is doing the right things to ensure the long-term sustainability of Cypark,” Ami said in the statement on Tuesday.

The company’s perpetual sukuk stood at RM502.08 million as at Jan 31, according to its latest quarterly report. 

For the financial quarter ended Jan 31, 2024 (3QFY2024), the group reported a net loss of RM27.98 million, on the back of RM35.89 million in revenue. There is no year-on-year comparison, as Cypark changed its financial year in 2023 to April 30 from Oct 30. The net loss was due to a sharp rise in amortisation amounting to RM21 million, due to a policy revision by its new audit committee, which appeared to disagree with the extension of its waste-to-energy plant’s useful life.

At the time of writing on Tuesday, shares in Cypark were down one sen or 1% at 99 sen, with six million shares traded, giving the company a market capitalisation of RM810.53 million.

Source: The Edge Malaysia

Cypark’s LSS3 solar plant in Terengganu set for commercial operations next month


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Japan’s Toyo Engineering Corporation, along with its subsidiary Toyo Engineering and Construction Sdn Bhd, have signed a memorandum of understanding (MOU) with InvestSarawak to facilitate Toyo in exploring potential investments in energy projects in Sarawak.

Toyo Engineering and InvestSarawak said in a joint statement on Monday that the MOU outlines the commitment of both parties to establish a cooperative framework that will foster collaboration on potential energy projects critical to the Sarawak government’s energy transition initiatives.

“Such initiatives include developing green hydrogen projects, carbon capture and storage (CCS), waste-to-energy projects that convert organic waste materials into energy, energy storage solutions such as battery storage or pumped hydro storage and smart grid technology to enhance the efficiency and reliability of the electrical grid,” they said.

InvestSarawak chief executive officer Timothy Ong said the partnership with Toyo is a testament to Sarawak’s commitment to embracing clean and sustainable energy sources that will propel the state economic and social development forward.

“This collaboration will leverage Toyo’s global insights and technological advancements to enhance our capabilities” he said.

InvestSarawak, an agency under the purview of Sarawak’s Ministry of International Trade, Industry and Investment (MINTRED), is a one-stop centre (OSC) dedicated to attracting investments to Sarawak while fostering trade and talent development, in alignment with Sarawak’s vision for 2030 and beyond.

Meanwhile, Toyo Engineering Corp senior executive officer, unit director of business development and marketing unit, Casey Takeshi Matsumuro, said Toyo was honoured to support Sarawak’s ambitious energy goals.

“This collaboration allows us to bring our expertise and technology to the forefront of Sarawak’s energy landscape, aligning with our mission to contribute to sustainable growth globally,” he said.

Toyo, with its track record and expertise in engineering, procurement, construction and technical services across various sectors, including oil and gas, petrochemicals and renewable energy, brings its global experience and innovative technologies to this partnership.

Source: Bernama

InvestSarawak, Toyo to explore potential investments in energy projects


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Malaysia is poised to become a powerhouse in clean and renewable energy in the Southeast Asian region, especially with the emergence of high-tech industries ramping up electricity demand, said industry players.

Speaking at the KL20 Summit 2024 during a forum titled “The Future of Clean Energy,” OCI Holdings Ltd chairman Lee Woo-Hyun highlighted several factors making Malaysia an attractive destination for energy investments which include its strategic geographical location, abundance of potential human capital and the conducive policies adopted by the government.

Lee emphasised Malaysia’s stability amid geopolitical tensions, making it an appealing choice for industry players looking to secure their supply chain networks.

“Malaysia has proven to be beneficial due to its neutral stance in geopolitical tensions. This makes the country highly potential for clean energy investments,” he said.

However, Lee noted that for Malaysia to fully realise its potential, it needs to focus on developing the skill sets of its labour force, stressing the importance of training the workforce to meet the demands of clean energy and emerging high-tech industries.

“The problem is there is a strong mismatch between some graduates’ actual skills and the skill sets required by companies. There is still a learning curve to bridge this gap,” Lee said.

Meanwhile, Google’s Asia-Pacific head of clean energy and power Giorgio Fortunato, also a panellist in the forum, emphasised the importance of a stable energy landscape for the growth of the digital economy as tech companies rely on stable and reliable electricity to operate their data centres effectively.

“We are currently in a transition period where many markets across the Asia-Pacific are establishing new policy frameworks and mechanisms for energy users like us to procure carbon-free energy. There is no better way to operate data centres than using clean energy,” he said.

Fortunato added that the tech giant is committed to providing upskilling opportunities for 300,000 Malaysians by 2026. Additionally, they are exploring the potential establishment of a data centre for their digital services, accelerating artificial intelligence (AI) innovation to enhance economic competitiveness and developing cloud-first policies for the AI economy.

He said these initiatives are part of a collaboration outlined in a Memorandum of Understanding (MOU) signed with Malaysia last year which was part of Google’s broader initiative to foster growth in businesses of all sizes, empowering them to become more competitive in the digital economy.

Source: Bernama

Malaysia poised to become powerhouse in clean, renewable energy, industry players say


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This scheme incentivises property owners to invest in solar energy systems by offsetting their electricity bills and potentially earning revenue from surplus energy generation

IN MALAYSIA, both commercial and residential properties have been increasingly adopting solar power installations. The Net Energy Metering (NEM) scheme allows property owners to install solar panels and generate electricity for their consumption while also selling excess energy back to the grid.

This scheme incentivises property owners to invest in solar energy systems by offsetting their electricity bills and potentially earning revenue from surplus energy generation. Additionally, there are various financing options and incentives available to encourage solar power adoption, making it accessible to a wider range of consumers. 

According to the Sustainable Energy Development Authority (SEDA), NEM was introduced in November 2016 to promote the adoption of renewable energy (RE), particularly solar energy. 

Initially, the scheme had a quota allocation of 500MW until 2020. To further incentivise NEM uptake, NEM 2.0 was introduced in January 2019, allowing for a true net energy metering concept where excess solar energy could be exported back to the grid on a one-to-one offset basis. 

The implementation of NEM was overseen by various authorities, including the Ministry of Energy and Natural Resources (KETSA), and the Energy Commission Malaysia (EC) SEDA Malaysia. 

Due to high demand and to promote solar energy usage, NEM 3.0 was launched in December 2020, offering more opportunities for consumers to install solar PV systems. The energy and natural resources minister introduced NEM 3.0 to accommodate the overwhelming response from the photovoltaic (PV) industry. 

The new programme offers an additional quota of 100MW for NEM Rakyat and 300MW for NOVA. The quota offer period extends until December 2024 or until all quotas are allocated, with the total quota allocation under NEM 3.0 being up to 1,450MW. 

In a statement to The Malaysian Reserve (TMR), SEDA stated that the NEM programme aims to encourage the installation of solar panels on rooftops that will encourage clean electricity generation for homeowners and businesses. 

“Since its inception, NEM has provided opportunities for individuals such as homeowners to contribute to the energy transition agenda. This is definitely a positive progress for Malaysia’s energy landscape as the energy transition agenda is a national agenda that requires a whole of nation approach from individuals to businesses,” it said. 

SEDA also stated that as of February 2024, the breakdown of its solar residential by programme is at 16.86%. 

Approval mandates obtaining a licence for systems exceeding 72kWp for three-phase and above 24kWp for single-phase. Consumers can purchase systems outright or opt for leasing arrangements, offering power purchase agreements or solar leasing. 

Tax incentives for homeowners are limited, while businesses can benefit. Options for financing include extended credit card payments or bank loans. This promotes both reduced bills and environmental sustainability. 

Homeowners’ Insight of Solar Panel Usage

In Malaysia, homeowners typically use solar panels to reduce their electricity bills and achieve long-term savings on energy costs. Additionally, many homeowners are motivated by environmental concerns and aim to reduce their carbon footprint by using RE sources like solar power. 

Going further into the consumer perspective, TMR had a brief conversation with several homeowners who have installed solar panels to gain insights into their experiences. 

43-year-old Mohd Ridzam Abdullah used his savings from the Employee Provident Fund to install an 8kW solar panel system which cost around RM30,000. 

He said using solar panels at home affected his monthly electric bill. 

“My monthly electricity bill, which was between RM800-RM1,300, has decreased significantly to RM50-RM90,” he said. 

Mohd Ridzam also emphasised that employing solar panels enables him to track his home’s electricity consumption via a smartphone app. Nonetheless, he highlighted Tenaga Nasional Bhd’s (TNB) monitoring of his residence due to the surplus electricity being resold to TNB. 

“The use of solar panels at home is indeed worthwhile. While it may require some time for it to become #nancially rewarding, the investment is still worth it,” he further added. 

On the other hand, 51-year-old Mohd Syamil Mohd Yusri recalled his encounter in employing a solar hybrid system as opposed to being connected directly to the grid. 

“If a solar panel is installed primarily for cost savings, the electricity bill reduction is not significant after factoring in the initial investment. However, if the goal is uninterrupted power supply, the investment is worthwhile,” he told TMR

According to him, installing solar panels at home requires a substantial upfront investment and it may take several years to recoup the costs through savings on electricity bills. 

Nevertheless, he highlighted one of the advantages is that during power outages, the house remains illuminated and Internet connectivity is maintained, except in cases of total blackouts. 

However, he said the inverter needs to be maintained and safeguarded by the owner. 

“If it is invaded by lizards, it will affect the metal-oxide-semiconductor field-effect transistor (MOSFET) and Insulated gate bipolar transistor (IGBT) inside the solar panel,” he said. 

Both the MOSFET and IGBT are types of semiconductor devices used to power electronics, including solar panel systems. 

MOSFET is a type of transistor that operates by controlling the $ow of current between the source and drain terminals using an electric field. 

In a solar panel system, MOSFETs are commonly used in charge controllers and inverters to regulate the $ow of electricity from the solar panels to the battery or grid. 

MOSFETs are known for their high switching speed, low on-resistance and efficiency, making them suitable for applications requiring high-frequency switching. 

Meanwhile, IGBT is a semiconductor device that combines the high-speed switching capability of a MOSFET with the high current-handling capability of a bipolar transistor. 

In solar panel systems, IGBTs are often used in inverters to convert the DC power generated by the solar panels into AC power suitable for use in homes or to feed into the electrical grid and preferred for high-power applications. 

Govt to Drive Solar Energy Adoption

The Green Technology tax incentives, effective from Jan 1, 2024, introduces new qualifying activities like green hydrogen, electric vehicle (EV) charging stations, and wind energy, encouraging sustainable practices. Businesses can apply for GITA projects and GITE Solar Leasing until Dec 31, 2026, through Malaysian Investment Development Authority (MIDA). 

The National Energy Transition Roadmap (NETR) aims for net-zero emissions by 2050, with targets of 31% RE by 2025, 40% by 2035, and 70% by 2050, fostering a gradual increase in RE shares. 

Flagship projects like PV are anticipated to draw over RM25 billion in investment, creating up to 23,000 jobs while reducing greenhouse gas emissions by over 10,000Gg CO2 equivalent annually.
NETR’s Responsible Transition (RT) Initiative fosters economic growth through green mobility, renewable energy, and emerging technologies, with projected investments of RM1.2 trillion to RM1.3 trillion by 2050 and an additional RM220 billion to GDP, creating 310,000 green jobs by 2050, benefitting medium to low-income households. 

Prime Minister Datuk Seri Anwar Ibrahim lauds NETR for job creation, boosting investment, and ensuring energy security, aiming for regional leadership in clean energy. 

The EN1 initiative launches the National Energy Transition Facility (NETF) to streamline investments for energy transition projects, with an allocated RM2 billion seed funds to support less bankable projects, crucial for Malaysia’s decarbonisation efforts. 

Delving deeper into the NETR, it highlighted some current statistics of energy emissions of Malaysia. Natural gas will not only be a transitional fuel, but also the main contributor of Total Primary Energy Source (TPES) at 57 megatonnes of oil equivalent (Mtoe) at 56% followed by renewables that include solar, hydro and bioenergy, which collectively contribute 23% of TPES in 2050 from a mere 4% in 2023. 

Since 2011, solar PV remains the most encouraging segment of the national RE landscape with an installed capacity compound annual growth rate (CAGR) of 48%, expanding from 0.1GW to 2.6GW. 

In short, based on past accomplishments and compliance with established benchmarks, the NETR report affirmed a high level of confidence that Malaysia can attain a 70% RE share of installed capacity by 2050, primarily propelled by the installation of solar PV systems. 

Nevertheless, the report underscored the imperative need for steadfast commitment to the expansion of solar capacity over the next three decades to reach a total installed capacity of 59GW by 2050. 

This commitment comes with some challenges, naturally. Large-scale-solar (LSS) development includes a variety of problems. The scattered development approach and lengthy permitting processes lead to higher development costs. This in turn limits the potential of LSS projects to be able to add to RE efforts. 

Furthermore, there are regulatory barriers and a technology-agnostic LSS bidding mechanism further slows the potential growth of innovative solar technologies like $oating solar and agrivoltaics. Such limitations shine a light on the need to be more streamlined and more supportive frameworks to foster broader adoption of RE solutions in the future. 

Currently, the estimated investment required by NETR anticipates that Malaysia needs an investment of up to RM1.3 trillion by 2050. In this decade alone, 18% of funding is required mainly in RE power generation and green mobility. High investment in RE power generation means high expansion of solar PV and hydropower as well as improving and strengthening of public infrastructure. 

Regarding green mobility, the investments call for the expansion of public transportation, amplification of domestic EV production capacities and increased manufacturing of EV charging infrastructure. 

Despite all the efforts, the adoption of solar panels in residential areas faces challenges such as high upfront costs, limited financing options and technical barriers. Additionally, some homeowners may lack awareness of the benefits of solar energy or may be hesitant to invest in solar panels due to concerns about reliability or maintenance. 

While the exact percentage of residential areas in Malaysia using solar panels may vary, it is generally considered to be a growing trend as awareness of RE increases and technology advances. However, the adoption rate is still relatively low compared to countries with more mature solar markets. 

Townships with Solar Panels Equipped 

Another contributor to the spreading of solar panel usage within Malaysia is the real estate developers who have decided to invest in housing projects that have solar power systems built in. 

In Malaysia, the integration of solar panels into residential developments is an emerging trend among forward-thinking property developers, especially with the growing emphasis on sustainability and energy efficiency. 

Some notable residential areas and developments that have been equipped with solar panels by developers in Malaysia include a township in Taman Bertam Heights (TBH) developed by Teladan Setia Group Bhd, a subsidiary of Teladan Setia Sdn Bhd. 

The project which is also Malacca’s first solar-powered ready homes is a collaboration with Micro Energy Holdings (M) Sdn Bhd (MEH). 

The project spans over 160 acres (64.75ha) of land all with homes that have solar power amenities built into them. These solar PV systems in its TBH are part of the Phase 2A gated and guarded housing development project in Malacca. 

These will be Malaysia’s first venture into readily-installed new homes powered by solar systems. 

According to a local news report by April 2023, Teladan will have pre-installed solar PV systems ranging from 2KWp to 4KWp for 352 housing units within the development. 

Teladan mentioned in a statement that these solar-ready homes are expected to drive down electricity costs for homeowners by up to 75% in savings. 

Barring extenuating circumstances, the green housing development project is expected to be launched in the third quarter of the financial 2023 (3Q23) and to be completed in 4Q26. It has an approximate gross development value of RM242 million. 

In addition to the solar PV systems saving homeowners up to 75% savings, Teladan also seems to be eyeing the addition of electric vehicle (EV) charging stations. 

Teladan MD Richard Teo Lay Ban, stated that the group also plans to incorporate EV charging stations in their future development prospects to facilitate and boost the adoption of EVs and will help in mitigating carbon emissions. 

This addition on top of the solar PV initiative, shows the dedication of pioneering companies that stays prudent and tailored to meet market needs, while also recognising the need and benefits of a greener, safer and more connected Malacca living experience. 

The strive towards being more eco-friendly however must not fall squarely on housing corporations, and while the market might be amicable towards green homes, there is still work to be done to spread this idea further in the public consciousness. 

Thus, it is also up to the government, as well as entities collaborating with the Malaysian government to be able to lead Malaysia into an eco-friendlier future with the help of massive initiatives such as pre-installed solar PV housing. 

Other than that, there is Sunway City, Selangor, which has pioneered efforts in sustainable living, evidenced by its certi!- cation as Malaysia’s first Green Building Index-certified township and a Low Carbon City recognised by the Malaysian Ministry of Environment and Water. 

Major developer, Sunway Property has been incorporating solar panels in various parts of the township, including residential units, to promote sustainable living. Sunway also stated its ambitious goal on its website to obtain 40% of its electricity from renewable sources by 2030, aligning with Malaysia’s national objective. 

To achieve this, the group plans to either locally generate renewable energy or purchase it from solar farms or green power stations. Besides that, the group is also intensifying efforts to upgrade the energy infrastructure in Sunway City Kuala Lumpur and fostering innovation to drive a widespread shift toward clean energy. 

Sunway City KL 

In 2022 alone, Sunway City Kuala Lumpur (KL) generated 3,210MWh of RE, sufficient to power around 443 homes annually, while the group as a whole produced nearly 10GWh, capable of powering over 850 homes yearly. 

Apart from that, the city prioritises preserving nature by dedicating 40% of its land to greenscapes and bluescapes, hosting over 30,000 trees and implementing eco-friendly initiatives like the use of NeuPave concrete material for pavements to reduce heat absorption and mitigate flooding. 

Additionally, the city boasts a comprehensive public transit system, including bus rapid transit services and elevated canopy walkways, which significantly reduce carbon emissions and vehicular traffic. 

Sunway Group’s commitment to sustainability extends to its Green Building Policy, aiming for all new buildings to be green-certified by 2025. These efforts align with the UN Sustainable Development Goals and exemplify Sunway’s dedication to leading the way in sustainable urban development. 

Another residential project present in Malaysia is located in the heart of Setia Eco Park in Shah Alam. This Eco Park boasts D’Network — a food and beverages (F&B) hub with many facilities that contain solar PV systems in many of its facilities. 

On the D’Network website, they mention that are the first solar-powered hybrid F&B hub. D’Network is powered by 207kWp of solar power system instead of the typical electrical grid supply which creates a sustainable dining experience for its patrons. 

In addition to that, they also have the world’s first solar-powered musical fountain at this hub. Named the Symphony of Sustainability, their iconic fountain charges during the day and lights up with many colours at night, where D’Network patrons can tune into the changing lights and tunes. 

An interesting benefit of the sustainable environment of D’Network is how the shade provided by the Cerekah Hill forest reserve creates an environment where it is one to two degrees cooler than the general surrounding area. This shows an additional benefit to developing residential areas that keep sustainability in mind. 

Finally for pet owners there they also boast the world’s first solar-powered pet-friendly park. This park has manicured greenery as well as waste disposal bins where owners and pets can interact with other owners and pets in this pet park. 

Other notable residential areas and developments that have been equipped with solar panels by developers in Malaysia include Setia Eco Glades, Cyberjaya. Developed by SP Setia, the project features homes with solar PV systems and other green technologies, aiming for energy-efficient living. The freehold town has built-up of 2,200 sq ft to 4,297 sq ft (399.2 sq m) for houses and was completed around 2015. 

Diamond City, Semenyih 

The development by Country Garden Malaysia which was launched in 2014, boasts of being the first Spanish villa township in Malaysia, with some homes equipped with solar panel systems. According to Diamond City website, the project is currently ongoing as of April 2024. From the project, unit 2A has been fully completed, while unit 2B is at 90%, unit 2C at 50% and unit 2D at 25% completion rate. 

Eco Ardence, Setia Alam, developed by Eco World Development Group Bhd project includes homes that are designed with sustainability in mind, featuring solar panels to reduce dependence on non-renewable energy. 

The project offers 999 units spanning over 533 acres and is a mixed residential development consisting of semi-Ds, link homes, bungalows, terrace homes and townhouses with various configurations within the compound. The properties in this estate range from 1,012 sq ft to 4,300 sq ft for houses, 1,540 sq ft to 1,650 sq ft for offices, and 3,300 sq ft for shop offices. 

Eden @ Jalil City located at Taman Puncak Jalil, Seri Kembanga which was developed by Eden Estates, focuses on sustainable homes with solar power and rainwater harvesting systems. The freehold terraced housing project was completed in 2014 and consists of a total of 64 units. 

Tropicana Aman, Kota Kemuning. Developed by Tropicana Corp, the township focuses on sustainable and eco-friendly features, including homes with solar panels. 

Bandar Rimbayu, Telok Panglima Garang by IJM Land, includes sustainable features like solar panel installations to create a green living environment. 

With developments readily equipped with solar panel systems, these developers are contributing to the trend of sustainable residential developments by incorporating solar energy systems, which not only help reduce the carbon footprint but also offer residents long-term savings on energy costs. As Malaysia continues to promote renewable energy, more developers are likely to include such eco-friendly initiatives in their future projects. 

To conclude, there seems to be large and continuously growing support for solar projects in Malaysia. With experts and a plethora of organisations, as well as the government, all striving towards a more eco-friendly and renewable energy-based future, Malaysia’s energy landscape will be bound to shift more sustainably over the next few decades.

Source: Malaysian Reserve

Driving Malaysia’s solar power adoption through commercial, residential properties


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Sin-Kung Logistics Bhd aims to raise RM26mil from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.

In a statement, the integrated logistics service provider said it will utilise RM10mil of the IPO proceeds to fund its warehousing and distribution services’ expansion to meet the future rising demand from manufacturing and e-commerce sectors.

A further RM2mil of the proceeds will be used to purchase 100 commercial vehicles by 2025, as part of its strategy to further expand its trucking and container haulage businesses.

The remainder of the proceeds will be used to repay bank borrowings amounting to RM9.6mil and working capital of RM1.1 mil, as well as defray the estimated listing expenses of RM3.3mil.

Managing director Alan Ong said the anticipated growth of the electrical and electronics (E&E) industry and the exports of E&E products will not only drive the logistics and warehousing industry as a whole, but will particularly benefit the air freight industry as E&E products are generally high-value items and commonly transported through air freight.

This will in turn create demand for trucking services, including airport-to-airport road feeder services and point-to-point trucking services, to facilitate the movement of E&E products between and to/from airports, he added.

“We are already preparing for the future with the acquisition of our Valdor Office and Warehouse that will add an additional annual capacity of 192,000 pallets, to cater to our customers in the northern region of Peninsular Malaysia when operations begin by the end of 2026.

“The Valdor Warehouse is a built-to-suit warehouse. The acquisition will provide us with more storage space in addition to our existing five warehouses to serve more and larger orders from both our existing customers and potential customers, which will lead us to an increase in revenue of our warehousing and distribution services moving forward,” said Ong.

The IPO is open for subscription until May 2, 2024.

Sin-Kung Logistics’ listing on the ACE Market of Bursa Securities is tentatively scheduled for May 15, 2024.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.

Source: The Star

ACE Market-bound Sin-Kung targets RM26mil in proceeds from IPO


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South Korea-based energy and chemical company OCI Holdings has announced the official opening of its regional headquarters here, marking a significant milestone in its commitment to expand its presence in the region.

OCI Holdings chairman Lee Woo Hyun said the new OCI M Sdn Bhd office is located in a thriving economic hub in Southeast Asia and will serve as a pivotal centre for the company’s operations, facilitating closer collaborations with stakeholders, partners, and clients across the region.

“We are thrilled to inaugurate our OCI M regional headquarters office in Kuala Lumpur, a vibrant city known for its dynamic business environment and strategic location. This milestone underscores our commitment to deepening our roots in the region and strengthening our partnerships with stakeholders and clients,” he said in his speech during the opening ceremony here today.

The event was officiated by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

In his speech, Tengku Zafrul called on OCI M to support local demand in the near future as Malaysia is moving aggressively in the front-end semiconductor value chain and green sectors such as electric vehicle development and renewable energy, among others.

There are also many South Korean companies that are working with the country on carbon capture, utilisation and storage (CCUS) which obviously require cutting edge technology products and services, he said.

“I think you (OCI) have a strong manufacturing base in Malaysia now, becoming a global exporter of chemical products. And I am very happy that you have made the decision to have your regional office or headquarters in Kuala Lumpur, which is really a major step ahead,” he said.

He noted that this headquarters will consolidate the functions of OCI in Japan, China, the Philippines and Malaysia in terms of the setting of financial budgets, development of business plans and establishment of a new growth investment initiative.

In addition, he said, the office will manage and support the network of OCI group of subsidiaries across mutiple countries, and be involved in investment ventures into chemicals and solutions not only in Southeast Asia but globally.

Tengku Zafrul said OCI’s move reaffirms the nation’s attractiveness as a preferred destination for foreign investment and underscores the confidence that global companies have in the economy, infrastructure, and skilled workforce.

“It demonstrates our country’s ability to provide a conducive environment for companies to thrive, innovate, and expand their operations,” he said.

Tengku Zafrul said the opening of the regional headquarters office reaffirms OCI’s long-term vision and commitment to driving sustainable growth and prosperity in the region.

By leveraging the diverse talent pool and business opportunities in Malaysia, OCI M aims to further enhance its position as a leading player in the energy and chemical sectors, he added.

Source: Bernama

South Korea-based OCI holdings opens regional HQ in Malaysia


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The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

In state capital Kuching, the gambit is well underway after Sarawak plowed US$3.4 billion (RM16.3 billion) into a network of power-to-transport projects. Three fuel-cell buses made in China that are free to ride ply the city’s roads, refuelling at multi-fuel stations that come with hydrogen bays. Officials travel around in Toyota Motor Corp’s Mirai, the world’s first mass-produced hydrogen fuel-cell vehicle.

Authorities in Sarawak “are in a way world leaders in hydrogen activities,” said Gniewomir Flis, a senior advisor at Washington-based climate policy advisory firm Kaya Partners specialising in hydrogen. “They are among the ones getting the ball rolling.”

Sarawak, a state the size of England with a population of 2.5 million, is blessed with the rivers and heavy rainfall needed to create hydropower that can generate clean electricity needed for emissions-free hydrogen. Kuching, meanwhile, is a city of over half a million people where the fuel can be much more easily adopted. The true test of Sarawak’s potential is whether it can help hydrogen commercialise on a larger scale overseas.

“We have the means to help cool down the world,” Sarawak Premier Tan Sri Abang Johari Tun Openg, who formulated the state’s hydrogen blueprint in 2019, said in an interview.

Taking Sarawak’s hydrogen global, however, remains a costly and complex task. For one, it requires the construction of whole new infrastructure to produce the gas, transport it to customers and then burn it. Hydrogen cannot be transported on its own due to its low density, and needs to be converted into another chemical liquid compound first.

Global hydrogen use rose to 95 million tonnes in 2022, and less than 1% of the total was low-emissions fuel, according to the International Energy Agency.

“The fundamental challenge with hydrogen lies in its transportation logistics, as most hydrogen currently used is situated near demand centres,” said Minh Khoi Le, head of hydrogen research at Rystad Energy.

Nonetheless, two Asian countries where hydrogen is seen as crucial to the green transition have already set their sights on Sarawak as a key provider of the fuel.

South Korea’s private sector has pledged to pour billions of dollars into creating a value chain for the clean fuel, while Japan, which created the world’s first hydrogen strategy in 2017, said in the latest update in June that it aims to increase consumption of the fuel to 20 million tonnes by 2050 from about two million tonnes now.

The countries’ biggest energy companies are partnering with Sarawak’s new state-backed entity, SEDC Energy, to build two hydrogen plants in the port city of Bintulu called H2ornbill and H2biscus, named for the state bird and Malaysia’s national flower. The Japan-backed plant, H2ornbill, aims to convert hydrogen into methylcyclohexane, a chemical also known as MCH, to be exported to Japan. H2biscus, meanwhile, plans to convert its hydrogen output into ammonia for export to South Korea.

The two projects, slated to start commercial production in 2028 at the earliest, together aim to produce 240,000 tonnes of hydrogen a year. The figure rivals the stated output of Saudi Arabia’s Neom plant, set to be the world’s biggest after announcing last year it would produce roughly 291,000 tonnes a year from 2026.

Malaysia is attractive mainly because of the low cost of production of green hydrogen, expected to be the cheapest among Southeast Asian countries by 2035, according to BloombergNEF forecasts, and roughly 20% less than in South Korea.

“A stable supply of electricity at a low cost are the most important points” for Japan’s hydrogen goals, said Shohei Yasuda, an official at the hydrogen promotion department of Eneos Corp, one of the Sarawak project’s partners.

Despite Malaysia’s low costs, green hydrogen still faces huge price hurdles against much cheaper fossil fuels — natural gas is currently about a quarter the price of green hydrogen produced with Western technology, according to BNEF. And that doesn’t include the cost to liquefy the hydrogen or convert it for export.

Liquefying hydrogen also requires vast amounts of energy — the process is expensive and consumes more than 30% of the energy content of the fuel, according to the US Department of Energy. It’s also less dense than liquefied natural gas, so transporting it at scale would require creating new fleets of ships, infrastructure and technology.

And the technology is still in the midst of proving itself. The world’s largest green hydrogen project, located in western China, is grappling with issues around efficiency and flexibility, according to an analysis by BNEF. Its electrolyzers — machines that strip hydrogen from water — are currently the cheapest in the market but struggle to manage fluctuations in power from sources like solar.

Sarawak touts its access to unfettered hydropower as the key to prevent such problems.

“Our advantage is of course hydropower,” said Robert Hardin, chief executive officer at SEDC Energy. “We don’t have that issue of intermittent supply.”

While hydrogen’s practical use still faces many hurdles, Sarawak is powering ahead at home. Its biggest undertaking yet is a planned autonomous, hydrogen-fuel tram line costing RM5.59 billion that is slated to start operations as early as next year. The trackless tram system, built by a unit of China’s CRRC Corp, has not been put into commercial operation anywhere in the world.

Other plans in the works in Sarawak include hydrogen-powered waste collection trucks and medium-sized boats, which are a common form of commuting in more rural areas, said Robert.

With more than enough water and hydrogen to power these ambitions, Sarawak could end up looking like a model state for hydrogen, but Kaya Partners’ Flis said there is also a risk of the investments not working out and becoming white elephant projects.

Abang Johari admits that the stakes are high.

“It is a risk, but it is a calculated risk,” he said. “There is no other option, we need alternative energy, and hydrogen, ultimately, is the cleanest.”

Source: Bloomberg / The Edge Malaysia

Sarawak aiming to transform itself into a centre for clean hydrogen energy


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The setting up of the Energy Exchange Malaysia (Enegem) platform to facilitate cross-border trading of renewable energy (RE) is being viewed positively.

This is because RE exports are potentially a new revenue source and a driver of capacity growth for the industry, said analysts.

A pilot plan to export 100 megawatt (MW) of RE to Singapore was announced although details on a timeline and the source of RE supply were not disclosed by the Energy Transition and Water Transformation Ministry on Monday.

Interested RE bidders, who hold generation licences and/or retail electricity supply licences in Singapore, have been invited to register their interest on Malaysia’s Single Buyer website.

“The establishment of the Enegem platform represents another milestone achieved for the eventual cross-border trading of RE.

“We note that RE exports are potentially a new revenue source (via RE sales and other charges) and capacity-growth driver for Malaysia’s RE sector, which is currently reliant on domestic large-scale solar (LSS) and Corporate Green Power Programme (CGPP) schemes,” said Maybank Investment Bank Research (Maybank IB Research).

While the pilot 100MW export capacity is small, analysts noted that Singapore is looking to import up to 3.5 gigawatts (GW) of green electricity by 2035.

As for potential beneficiaries, Maybank IB Research said local solar players like Solarvest Holdings Bhd, Cypark Resources Bhd, Sunview Group Bhd, Pekat Group Bhd and Samaiden Group Bhd would benefit from increased job flows from RE-capacity growth.

The research house added that utility majors such as Tenaga Nasional Bhd (TNB) and YTL Power International Bhd could also benefit from RE exports via RE sales and “wheeling charges”, the amount charged by one electrical system to transmit energy to another system.

“Overall, we remain positive on the RE sector, for which engineering, procurement, construction and commissioning (EPCC) order book replenishment from the 800MW CGPP and 2GW of LSS5 projects.”

Meanwhile, CGS International Research (CGSI Research) said the establishment of Enegem adds to the good progress being made on initiatives under the National Energy Transition Roadmap (NETR), which was launched eight months ago, and this should help address investor qualms about its implementation.

“It also marks a key step towards realising the country’s energy-export potential.

“We see TNB, via grid upgrade requirements, and YTL Power via ownership of a generation/retail licence in Singapore as potential key beneficiaries,” said CGSI Research, which maintained an “overweight” rating on the Malaysian utilities space with the NETR having introduced a structural growth element to a sector that has traditionally been viewed as more defensive.

However, MIDF Research keeps its “neutral” stance on the sector. Although the development is positive, it said valuations are stretched, relative to the historical mean following the strong share price performances in the past year.

“But we still like the RE EPCC sub-sector, with Samaiden, Pekat and Sunview as key immediate-term beneficiaries of Malaysia’s RE initiatives.

“In the asset-owner space, we still like YTL Power for a potential earnings recovery at its British subsidiary Wessex Water Services Ltd, expansion into data centres and as a potential beneficiary of LSS5 and RE exports,” added MIDF Research.

The research firm added that the extent to which TNB will benefit from grid-upgrade requirements in the mid-term hinges on the approved capital expenditure under Regulatory Period 4, as well as allowable returns which will be determined towards end-2024.

Source: The Star

Renewable energy emerges as growth driver


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Rising electricity demand from data centres (DC) projects and artificial intelligence (AI) will lift Tenaga Nasional Bhd’s (TNB) long-term profitability.

But they may have limited impact on TNB’s immediate earnings, according to Affin Hwang Investment Bank.

In Malaysia, TNB has received 74 supply applications from DC customers with total maximum demand in excess of 11,000MW (40.6 per cent of Peninsular Malaysia’s installed capacity). 

“We do not expect all the projects to be implemented. TNB added that the group delivered electricity for nine DC projects with a total energy demand of up to 635MW in 2023,” said Affin Hwang in a note today.

For 2024, TNB expects to connect to nine DC projects with 700MW of total energy demand.

In the long run, TNB sees potential maximum demand from DC in excess of 5,000MW by 2035 (18.5 per cent of Peninsular Malaysia’s installed capacity).

“We believe Malaysia will need to invest further in the power infrastructure and this should improve TNB’s long-term profitability (via higher capex under the Income-Based Repayment framework),” it said.

The International Energy Agency (IEA) estimates that DC, cryptocurrencies and AI consumed about 460 TWh of electricity worldwide in 2022, almost 2.0 per cent of total global electricity demand. 

IEA forecasts global electricity consumption of DC, crypto and AI to range between 620TWh and 1,050TWh in 2026 (up 35 per cent-128 per cent), with a base case of 800TWh (up 74 per cent from 2022).

The rising DC projects should also benefit TNB’s non-regulated business units such as Allo (fibre connectivity) and GSpark (rooftop solar). 

“We continue to like TNB – a direct beneficiary of Malaysia’s energy transition initiatives and indirect beneficiary of rising DC and AI demand,” Affin Hwang said..

It maintained a “Buy” call on TNB with an unchanged price target of RM12.80.

Source: NST

Data centres, AI initiatives to boost electricity demand & lift TNB’s earnings


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Renewable energy solution provider G Capital Bhd has partnered with Hong Kong-based CCIAM Logistic Company Limited to raise RM325 million for its small hydropower projects in Pahang.

In a bourse filing on Monday, the group announced that its wholly-owned subsidiary Northern Star Hydropower Sdn Bhd has entered into a Memorandum of Understanding (MOU) with CCIAM Logistic to set forth mutual intentions for the project.

It said a full-term agreement is expected within 60 days from the effective date of the MOU, which will include the roles of the parties in the project and a success fee payable to CCIAM Logistic as capital-raising lead arranger.

CCIAM Logistic is fully owned by CCIAM Future Energy Limited, a public-listed company on the Hong Kong Stock Exchange primarily involved in the provision of energy-saving solutions and loan financing business.

In a statement, G Capital’s executive chairman Tan Sri Affendi Buang said the partnership would serve as a gateway for global green capital to invest in the company’s small hydropower portfolio.

“CCIAM Future Energy’s expertise and presence at HKEX bridge the gap between China and international markets. This strategic partnership is poised to accelerate Malaysia’s transition to clean energy by attracting foreign direct investment, fueling economic growth, and propelling the nation towards carbon neutrality,” he said in a statement.

G Capital has been in the red for the past two financial years ended on Dec 31. For FY2023, the company reported a net loss of RM9.76 million compared with a net loss of RM18.68 million in FY2022. Its revenue was down 2.3% to RM26.26 million from RM26.88 million.

According to its bourse filing, the loss was mainly attributable to provisions for foreseeable losses in its transportation and investment holding divisions. Its hydropower division, on the other hand, has yet to generate any revenue.

As at Dec 31, 2023, the group reported total cash and cash equivalents of RM2.23 million.

Shares of G Capital rose by half a sen or 1.35% to 37.5 sen at Monday’s close, valuing the group at RM121.96 million.

Source: The Edge Malaysia

G Capital partners with Hong Kong’s CCIAM Logistic to raise RM325 mil for hydropower projects


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Malaysia witnessed a 326 per cent year-on-year (YoY) surge in green investments to US$1.03 billion last year, due to an increase in large-scale deals seen specifically under the building sector.

This accounted for 16 per cent of the total green investments in Southeast Asia, according to a report jointly published by Bain & Company, GenZero, Standard Chartered and Temasek.

The report highlighted that although power, especially renewables, continued to be the leading green investment focus in 2023, there was a notable rise in investments in green data centres, primarily driven by energy efficiency regulations implemented in Malaysia and Singapore.

Significant investments of US$280 million by GDS Holdings Bhd and US$250 million by YTL Power International Bhd were made in data centres in Nusajaya Tech Park and Kulai, both in Johor.

For Malaysia to accelerate the development of its green economy, the report recommended driving the deployment of blended finance, further developments in renewables regulations, and continuing the momentum within industrial parks.

It suggested that Malaysia enhance renewable targets beyond the existing 40 per cent to accelerate the scale of the energy transition, as well as facilitate the first successful cross-border renewable energy sale to demonstrate its feasibility.

Malaysia plans to invest roughly US$1.47 billion into increasing energy efficiency in government buildings, according to the National Energy Transition Roadmap (NETR) phase two.

In August 2023, the government announced an allocation of US$430 million in a catalytic fund for blended finance, with an emphasis on the growth of industrial clusters in the districts of Sarawak and Johor.

Malaysia also lifted bans on renewable energy exports in 2023.

The report suggested that the state governments of Sarawak and Johor should continue enabling policies to attract private investors.

“(They should) catalyse more eco-industrial park formation by identifying partners with a keen interest in decarbonising,” it added.

Meanwhile, the report, which covers 10 markets – Malaysia, Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand, and Vietnam – stated that Southeast Asia requires US$1.5 trillion in cumulative investment in the energy and nature sectors to reach nationally determined contribution targets by 2030. 

However, only 1.5 per cent has been invested to date.

Last year saw a notable 21 per cent YoY uptick in green investments in the region to US$6.3 billion, reversing the downward trend in previous years. 

“As a growing economy, Southeast Asia needs to balance economic growth and the costs of the energy transition, as the region has legacy dependencies on fossil fuels for power generation.

“There is a reality gap between what many believe is happening and true progress on the ground. Despite Southeast Asia’s structural challenges, immense potential exists to accelerate the energy transition and build the green economy,” it said.

Source: NST

Malaysia’s “green” investments surge more than three-fold to over US$1bil: Survey


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Malaysia can propel its economic engine and become a leading innovation hub in the region by embracing AI and addressing existing challenges.

Through fostering collaboration between public and private sectors, investing in talent development and prioritising AI implementation, Malaysia can unlock the true potential of this transformative technology and become more competitive.

Malaysia is at the forefront of AI with its policies and various initiatives. Its digital economy is on course to hit its goal of contributing more than 25.5% of the nation’s gross domestic product (GDP) by 2025.

Unlike in the past, these initiatives will synch with the implementation from its government-linked companies and timely actions from the private sector.

The benefits of AI to industries in Malaysia:

Innovation acceleration: AI can analyse vast amounts of data to identify patterns and trends humans may miss. This fuels innovation by helping companies develop new products, services and business models. Companies that do not leverage AI for innovation risk falling behind in the race to develop the next big thing.

Efficiency edge: AI automates repetitive tasks, analyses data faster and optimises processes. Companies that integrate AI can significantly increase productivity and reduce costs, thereby raising profits. Imagine a manufacturing plant using AI to optimise its processes and then using an e-commerce platform using AI to streamline order fulfilment. Those who lag will struggle to compete with the efficiency gains of AI-powered businesses.

Customer experience revolution: AI personalises customer experiences by understanding their needs and preferences. This translates to targeted marketing, custom recommendations and improved customer service. Imagine a travel agency using AI to curate personalised vacation packages or a retailer using AI to recommend products based on a customer’s past purchases. Companies that do not leverage AI risk losing ground to competitors who cater to individual customer needs.

Disruption from AI-first companies: Entirely new businesses built around AI can emerge, disrupting traditional industries. Think of companies like Grab that revolutionised transportation, food delivery and parcel courier services. Industries that do not adapt to the changing landscape with AI can be blindsided by entirely new competitors.

Grants

Below are some of the grants available for AI implementation and other industry innovations:

Science, Technology and Innovation Ministry (Mosti):

Mosti plays a central role in promoting AI development in Malaysia. They oversee the National AI Strategy, which includes initiatives that may provide indirect support for AI implementation. Keep an eye on Mosti’s website (https://www.mosti.gov.my/en/) for updates on funding programmes related to AI.

Malaysian Digital Economy Corporation (Mdec):

Mdec actively supports digital transformation across various industries. While they may not have specific grants solely for AI implementation, they offer programmes that can be relevant depending on your project’s focus. Explore Mdec’s website (https://mdec.my/) for funding opportunities under initiatives such as the Digital Transformation Grant or the Global Innovation and Tech Alliance.

Other research granting bodies:

Explore grant opportunities offered by other public research bodies such as:

Fundamental research grant scheme: Administered by the Higher Education Ministry (https://www.mohe.gov.my/en), this scheme supports fundamental research across various disciplines, potentially including AI-related projects within universities.

Science Fund: Managed by Mosti, the fund provides grants for research projects in various scientific fields, potentially aligning with some AI initiatives.

MyDigital Corporation

MyDigital Corporation was incorporated in September 2021 as a strategic change management office to drive the execution of initiatives under the Malaysian Digital Economic Blueprint and the National IR4.0 policy.

The Fourth Industrial Revolution (IR4.0)

Malaysia established Asean’s first centre for IR4.0, known as the Malaysian Centre 4IR. The role of this centre is to create a foundation to harness IR4.0 and:

Connect Malaysia to leading global 4IR practices to accelerate the adoption of emerging technologies.

Serve as the IR4.0 International Cooperation and Partnership Development.

Position Malaysia as an IR4.0 innovation hub.

Enable access to top experts, innovators and policy leaders.

Expose companies to cutting-edge technology governance and adoption

Act as a global platform that drives a multi-stakeholder ecosystem to facilitate the development of policy frameworks across centres around the world.

Act as a focal point between government agencies and the private sector to problem-solve issues.

Provide support for pilot projects, knowledge transfer and talent development.

MyAira

The Malaysian Autonomous Intelligence and Robotics Association (MyAira) is a non-profit association founded in 2021. Its main objectives are to accelerate innovation in the AI and Robotics sector, connect entrepreneurs and start-ups in their initial steps and be a catalyst toward better national policies, legislation and regulations in AI and robotics.

MyAira is an international collaboration platform based in Malaysia, nurturing related ecosystems by:

Providing a collective platform for expressing common industry concerns in promoting robotics, digital workforce, unmanned vehicles and artificial and autonomous intelligence.

Promoting research and development in autonomous intelligence, robotics, digital human workforce augmentation, unmanned vehicles and cybersecurity while giving a consultative voice in technical solutions and services.

Promoting and organising trade missions, events, exhibitions, conferences, virtual events and webinars to accelerate global trade and collaboration with industry associations globally.

Promoting awareness and education of AI in educational institutions and to the public at large.

Providing a collective voice of the related industries to contribute to governments on regulatory issues.

AI is not just a trend, it is a transformative force. While implementing AI comes with challenges, the benefits are undeniable.

Companies that embrace AI early stand to gain a competitive advantage. The longer an industry waits, the higher the risk of falling behind and becoming obsolete. The urgency for industries to adopt AI stems from the immense potential it offers to revolutionise efficiency, innovation and customer experience.

The writer is the Chief Mind Unzipper and founder of Mindbloom Consulting.

Source: The Sun

Embracing AI and IR4.0


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