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Energy & Technology

Solarvest To Ramp Up Production As Battery Costs Fall

Malaysia’s largest solar company, Solarvest Holdings Bhd, plans to more than double its electricity generation capacity over the next two years, driven by declining battery costs that make renewable energy projects more feasible. Solarvest Holdings Bhd’s shares have risen 27% over the past year, boosted by new projects and expectations that data centres will drive higher power demand. CEO Davis Chong said rising power demand from AI data centres in Malaysia—projected to need 7.7GW by 2030—offers the company significant growth potential. Solarvest currently operates about 1.2GW of capacity and aims to add another 2GW by next year. Battery system costs in Malaysia have dropped to US$90–100 per kWh from US$230 per kWh a year ago, with further declines to US$60 per kWh expected, accelerating renewable installations and helping grids integrate intermittent energy. The company also sees opportunities to expand overseas, particularly in Vietnam and the Philippines, by the end of the decade. Solarvest, co-founded in 2012, is Malaysia’s first listed solar firm. Its shares have risen 27% over the past year amid new projects and growing electricity demand from data centres.

Energy & Technology

Vietnam Opens First Cross-Sea Drone Delivery Route

Ho Chi Minh City has launched Vietnam’s first cross-sea drone delivery route, connecting Can Gio Commune to Vung Tau Ward, on February 12, according to Radio the Voice of Vietnam. The project was held at the Can Gio Ferry Terminal and jointly organised by the City’s Department of Science and Technology, Vietnam Post, and CT UAV Joint Stock Company. It marks a major step in adopting smart transport solutions, helping boost the digital economy, reduce road congestion, and establish the country’s first cross-sea unmanned postal route. During the launch, a live drone flight transported a parcel from Can Gio to Vung Tau, completing the full process of loading, takeoff, maritime flight, landing, and handover safely. The flight path links the Can Gio Ferry Terminal to the Vung Tau maritime ferry terminal on Tran Phu Street. Initially, Vietnam Post will focus on small parcels under 5kg, including documents and e-commerce goods. The Department of Science and Technology will coordinate operations, with the City High Command overseeing daily activities. The new UAV route significantly shortens delivery times across challenging geographic areas, offers faster shipping with real-time tracking, improves reliability during traffic disruptions, and serves as a pilot for developing low-altitude logistics policies and the “low-altitude economy.”

Investment & Market Trends

Macquarie-Led Consortium To Acquire Qube Holdings For US$8.3 Billion

A consortium led by Macquarie Asset Management will acquire Qube Holdings Ltd in a deal worth around A$11.7 billion (US$8.3 billion or RM32.36 billion), expanding the Australian firm’s infrastructure portfolio to include ports and rail operations. The group will pay A$5.20 per share, a 28% premium to Qube’s closing price on Nov 21 before Macquarie’s initial approach. The consortium also features Pontegadea, the investment arm of Zara founder Amancio Ortega. Qube runs a transport and trade network handling goods such as grain and cottonseed and employs about 10,000 people across Australia, New Zealand, and Southeast Asia. UniSuper, an Australian pension fund, will transfer its 15% stake in Qube into the consortium. The transaction is subject to regulatory approvals from the Foreign Investment Review Board and the Australian Competition & Consumer Commission. Macquarie Asset Management, part of Macquarie Group Ltd, manages around A$736 billion in public and private assets, including container terminals in New York and toll roads in South Korea. Qube shares rose 3.5% in Sydney trading, marking a 22% gain over the past year.

Energy & Technology

MISC Extends FPSO Ruby II Contract In Vietnam Until 2027

MISC Bhd (KL:MISC) has secured a contract extension for its FPSO Ruby II offshore Vietnam, allowing operations to continue until Dec 31, 2027. The extension was awarded by Vietnam National Industry – Energy Group (Petrovietnam) to Vietnam Offshore Floating Terminal (Ruby) Ltd (VOFT), a joint venture 40% owned by MISC and 60% by PetroVietnam Technical Services Corporation (PTSC). The contract covers the lease, operation, and maintenance of the vessel. FPSO Ruby II has been operating in Blocks 01 & 02 offshore Vietnam since achieving first oil in June 2010. The Aframax-sized vessel has a production capacity of 39,000 barrels per day. The extension includes life-extension works such as equipment replacement and refurbishment. MISC president and group CEO Zahid Osman said the contract renewal reinforces the group’s long-standing partnership with Petrovietnam and PTSC, while supporting its strategy of generating stable cash flow from existing assets through safe and reliable operations. At the midday break on Monday, MISC shares rose four sen, or 0.5%, to RM8.10, valuing the company at RM36.16 billion.

Investment & Market Trends

Bursa Malaysia And TERAJU To Boost Bumiputera IPO Preparation

Bursa Malaysia has teamed up with TERAJU to strengthen the pipeline of Bumiputera companies preparing for initial public offerings (IPOs). The partnership, formalised through a Memorandum of Collaboration (MoC), aims to increase Bumiputera participation in Malaysia’s capital market while supporting more companies towards listing. Under the collaboration, Bursa Malaysia will guide selected high-potential companies in meeting IPO requirements, offering advisory support, networking opportunities with capital market intermediaries, and programmes to enhance governance and compliance standards. TERAJU will identify suitable Bumiputera companies, facilitate access to funding and incentives, and coordinate with government agencies, financial institutions, and industry players to provide comprehensive support throughout the IPO journey. Bursa Malaysia CEO Dato’ Fad’l Mohamed said the initiative supports the Pelan Transformasi Ekonomi Bumiputera (PuTERA35), which targets 30% Bumiputera equity ownership by 2035. He noted that many Bumiputera companies have untapped potential to grow into listed entities. TERAJU CEO Junady Nawawi said the collaboration focuses on mid-sized Bumiputera firms with strong growth prospects that may lack structured support in preparing for listing. In addition, Bursa Malaysia’s subsidiary BR Capital signed a separate Letter of Collaboration with TERAJU to provide debt and alternative financing solutions, helping companies scale up ahead of a potential IPO. Both organisations have also been conducting IPO roadshows nationwide to raise awareness and encourage more companies to consider listing.

News

Pahang Aerospace City Appoints Rajeeshwaran Moorthy As Board Advisor

Pahang Aerospace City (PAC) today announced the appointment of Rajeeshwaran Moorthy as Board Advisor, a move that significantly strengthens PAC’s emergence as a globally credible, institutionally aligned space city and reinforces Malaysia’s positioning in the rapidly evolving global space economy. The appointment follows a series of landmark international developments achieved at Davos, in parallel with World Economic Forum, where PAC secured unprecedented validation on the global stage. These milestones were led and enabled by Rajeeshwaran Moorthy, whose international standing and institutional relationships were instrumental in advancing PAC’s global alignment. International Validation Led at Davos At Davos, PAC entered into a Letter of Intent (LOI) with the United Nations Office for Outer Space Affairs (UNOOSA), a significant step in aligning the project with international space governance frameworks and multilateral cooperation. In parallel, The Karman Project, one of the world’s most influential space leadership and policy platforms, signed a collaboration agreement with PAC, positioning the city as a future hub for space leadership, talent development, and policy dialogue. These achievements were made possible through Rajeeshwaran Moorthy’s direct engagement and leadership at Davos, leveraging his deep involvement across global space institutions and policy networks. A Chief Architect of Global Space Ecosystems Rajeeshwaran Moorthy is internationally recognized for his work at the intersection of space economy strategy, governance, and institutional architecture. His advisory portfolio spans some of the most influential organizations shaping the future of space, including: · Appointed Advisor to the United Nations Office for Outer Space Affairs (UNOOSA) (via MSRO) · Senior Advisor at The Karman Project, a premier global space leadership and policy platform · Advisor to Axiom Space, a leader in commercial space stations and orbital infrastructure · Strategic Advisor to the Maldives Space Research Organisation (MSRO) · Senior Advisor to ARCHE Company, a venture based space research and technology firm Collectively, these roles position Rajeeshwaran as a trusted global interlocutor between governments, multilateral institutions, and commercial space actors bringing rare credibility to PAC at a formative stage. Architecting a Globally Relevant Space City As Board Advisor, Rajeeshwaran will guide PAC’s strategic direction across space governance, international partnerships, policy alignment, and the integration of terrestrial infrastructure with orbital and space-enabled systems. His role places him at the centre of PAC’s long-term architecture, effectively shaping how the city interfaces with global space markets, institutions, and sovereign stakeholders. PAC is being developed not merely as an aerospace cluster, but as a fully integrated aerospace city, designed to support space commerce, advanced manufacturing, research, talent development, and international cooperation under globally recognized norms. CEO Perspective “The future of economic competitiveness will be increasingly defined by space through data, infrastructure, security, and innovation,” said Muhamad Nurazmi, Chief Executive Officer of Pahang Aerospace City. “Rajeeshwaran Moorthy brings an exceptional combination of global credibility, policy fluency, and strategic vision. His leadership was instrumental in securing PAC’s international validation at Davos, and his appointment reflects our commitment to building PAC as a space city of global consequence.” A Strategic Inflection Point for Malaysia Rajeeshwaran’s appointment is widely viewed as a strategic inflection point for PAC and for Malaysia’s broader role in the international space landscape. His ability to operate across sovereign, multilateral, and commercial domains positions PAC as a trusted platform for long-term engagement with governments, investors, and global institutions. “Building a space city is ultimately about governance, trust, and global relevance,” said Rajeeshwaran Moorthy. “Pahang Aerospace City has the opportunity to set a new benchmark for how space-enabled cities are conceived, governed, and integrated into the global economy.” Positioning PAC on the World Stage With this appointment, PAC advances its ambition to serve as Asia’s gateway to the global space economy, supporting high-value innovation, international cooperation, and sustainable growth. The city is designed to attract sovereign partners, global enterprises, and next-generation space leaders while aligning with national priorities and international best practices.

Property

Berjaya Land To Rename As Berjaya Property After Shareholder Approval

Berjaya Land Bhd (BLand), controlled by Tan Sri Vincent Tan, will be renamed Berjaya Property Bhd following shareholder approval at an extraordinary general meeting on Friday. The company said the name change reflects its stronger focus on property as its core business. Property remains the group’s main platform, supporting its wider portfolio that includes hospitality, retail, transport, mobility and lifestyle ventures. The rebranding is aimed at providing clearer visibility of the group’s key value drivers, strengthening its corporate identity, and enhancing transparency for investors and stakeholders. Group CEO Syed Ali Shahul Hameed said property has long supported the company’s integrated developments, recurring income streams and long-term growth plans. BLand shares closed unchanged at 27 sen on Friday, valuing the company at about RM1.35 billion. The stock has risen 3.9% year-to-date.

Investment & Market Trends

McDonald’s Malaysia To Invest RM1B, Open 100 Outlets, Hire 10,000 Staff

McDonald’s Malaysia has unveiled a RM1 billion investment plan to expand its operations over the next five years, aimed at improving accessibility, creating jobs, and supporting local communities. McDonald’s Malaysia has announced a RM1 billion investment plan to expand its operations over the next five years.  Under the plan, the company will open 100 new outlets nationwide, generating more than 10,000 job opportunities. McDonald’s Malaysia, which currently employs over 16,000 Malaysians, will maintain its 100% local hiring policy. The company also sources 75% of its products locally, supporting domestic suppliers and contributing to the growth of Malaysia’s food industry. Managing Director and Local Operating Partner Datuk Azmir Jaafar said the expansion aligns with the company’s long-term vision of building a skilled and future-ready workforce. Despite a challenging business environment, McDonald’s Malaysia recorded 26% year-on-year growth in 2025, reflecting strong customer trust and loyalty. The announcement coincided with the reopening of the McDonald’s Titiwangsa Drive-Thru outlet after renovations. The company currently operates more than 370 outlets nationwide, having opened seven new restaurants in 2025 and 11 in 2024. Several of the new outlets will be located in Sabah and Sarawak to meet rising demand. McDonald’s will also continue expanding its Vocational Academy, developed with the Human Resources Ministry under the National Dual Training System, to provide training and career opportunities for youths, persons with disabilities, B40 communities, and Orang Asli groups. Azmir said the investment underscores the company’s commitment to sustainable growth, workforce development, and long-term contributions to Malaysian communities.

News

PRIMA Names Brian Iskandar Zulkarim As Group CEO

PRIMA Corporation Malaysia has named Brian Iskandar Zulkarim as its new Group CEO, effective Jan 1, 2026, succeeding Datuk Seri Mohd Nazri Md Shariff, who led the company since May 2020. Brian Iskandar brings extensive experience in property development and corporate leadership. He was previously CEO of Bandar Malaysia Sdn Bhd, overseeing the 196.27-hectare Bandar Malaysia project, including the master plan for mixed-use developments and strategic infrastructure valued at RM173 billion. He also served as Group CEO of Damansara Realty Bhd, managing projects such as Bandar Damansara Aliff in Johor and Bandar Damansara Kuantan in Pahang, and held senior roles at Malaysia Airports Holdings Bhd, including CEO of Urusan Teknologi Wawasan and General Manager of Transformation Management and Overseas Ventures. PRIMA chairman Datuk Azrulnizam Abdul Aziz said the appointment ensures leadership continuity and reflects the company’s focus on performance and strategic growth. He also thanked Datuk Seri Mohd Nazri for his contributions in strengthening PRIMA’s operations during his tenure.

News

NexG Appoints New Auditor After Baker Tilly Declines Role

NexG Bhd has appointed PKF PLT as its new auditor after its previous choice, SBY Partners PLT, declined the role. Baker Tilly Monteiro Heng PLT had resigned in January 2026, just four months into the job, citing major changes in the company’s board. NexG initially sought SBY Partners to replace Baker Tilly, but the appointment did not proceed by mutual consent. The board said PKF PLT was selected after assessing their independence, expertise, team, and fees, noting that a new auditor could bring fresh perspectives. PKF confirmed its consent to act as auditor on Feb 13, 2026. The changes come after significant board reshuffles late last year following major government contract wins, including the resignation of several directors such as executive deputy chairman Tan Sri Mohd Khairul Adib Abd Rahman and executive director Datuk Puvanesan Subenthiran. NexG also completed corporate exercises, including the RM76.78 million purchase of a 32.61% stake and 414.3 million Classita Holdings Bhd warrants at a steep 87.5% premium. Classita has since been rebranded as NexG Bina Bhd. Shares in NexG closed at 28.5 sen on Friday, down 0.5 sen or 1.7%, valuing the company at RM994.4 million.

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