Graphjet steps up a gear as NIMP 2030-recognised national project amid its NASDAQ listing plan - MIDA | Malaysian Investment Development Authority
contrastBtngrayscaleBtn oku-icon


plusBtn crossBtn minusBtn


This site
is mobile


Graphjet steps up a gear as NIMP 2030-recognised national project amid its NASDAQ listing plan

Graphjet steps up a gear as NIMP 2030-recognised national project amid its NASDAQ listing plan

05 Sep 2023

NASDAQ-bound Graphjet Technology Sdn Bhd, the world’s leading graphite and single-layer graphene producer, has been meticulously chosen as one of the distinguished champions of the New Industrial Master Plan 2030 (NIMP 2030).

In a remarkable endorsement under the NIMP 2030 which was launched by Prime Minister Datuk Seri Anwar Ibrahim, the Investment, Trade and Industry Ministry (MITI) has officially recognised Graphjet Technology as the groom champion in four game changing advanced materials category (MBP 1.4).

This recognition is further cemented with the issuance of a certificate of acknowledgement to Graphjet Technology, thus reinforcing the company’s status as a mission-based project champion under the NIMP 2030 framework.

This NIMP 2030-driven initiative aims to rejuvenate local ecosystems, foster innovation and cultivate talent with Graphjet Technology leading the charge.

At the heart of the Madani Economy, this plan underscores the nation’s dedication to creating high-value job opportunities, fortifying the middle class, and architecting a more equitable and prosperous society.

As an MBP Champion, Graphjet Technology is poised for numerous benefits. Beyond the expansion of business opportunities, the company will become an integral part of a landmark national project.

With the government’s steadfast support, challenges will be addressed promptly, hence ensuring a smooth journey ahead. Additionally, Graphjet Technology will gain privileged access to NIMP 2030 funds while holding a vital position in the NIMP 2030 governance as well as contributing significantly to industry development.

Vibrant industrial future

During the NIMP 2030 launch, Anwar who is also the Finance Minister had mentioned that the NIMP 2030 would require an estimated total investment of RM95 bil over the next seven years, predominantly from the private sector by mobilising private equity in the capital and financial markets.

The government will nevertheless made available close to 10% of the amount to help catalyse and incentivise these investments via the NIMP Industrial Development Fund and the NIMP Strategic Co-investment Fund.

Renowned for their ground-breaking conversion of palm kernels into graphite and single-layer graphene, Graphjet Technology’s innovations have found a harmonious fit with the objectives of NIMP 2030.

This strategic initiative represents Malaysia’s dedication to shaping a vibrant industrial future by focusing on fostering high-value jobs, strengthening the middle class and driving sustainable societal advancement.

“Being selected as a champion for NIMP 2030 resonates deeply with our core values and aspirations. We are the first in the world to transform renewable raw materials, such as palm kernels, into graphite and single-layer graphene,” commented Graphjet Technology’s CEO Aiden Lee Ping Wei.

“Awarded the Nobel Prize in Physics in 2010, graphene is a stand-out material. We have created a unique patented method to turn palm kernel shell waste into single-layer graphene at a much lower cost. This breakthrough places us at the forefront of advanced material innovation in Malaysia.”

Coinciding with this significant national role, Graphjet Technology’s forthcoming NASDAQ listing underscores its global ambitions by bringing international attention to Malaysia’s advanced industrial blueprint.

The group is making significant strides towards its listing on NASDAQ which is projected to lead to an impressive market capitalisation of US$1.5 bil (RM7 bil), a feat that showcases the firm’s robust growth trajectory and the global investor community’s faith in its potential. 

Source: Focus Malaysia