Energy & Technology

KUALA LUMPUR, Zetrix AI Bhd said its partnership with Tools for Humanity, the developer behind Worldcoin, remains valid but is currently under review following reports of a raid on a Worldcoin-linked exchange in Thailand. The agreement — inked last year between Zetrix AI (then known as MyEG Services Bhd), Tools for Humanity and state-owned Mimos Bhd — is “still in effect and presently under further evaluation by the three parties,”. Thai authorities recently raided a Worldcoin-affiliated iris scanning and exchange site in Bangkok, arresting several individuals for operating an unlicensed digital asset business. The incident has intensified global scrutiny of Worldcoin, which collects biometric data through iris scans to create digital identities — a practice that has raised privacy concerns. In August 2024, MyEG announced a memorandum of understanding (MoU) with Mimos, the Worldcoin Foundation and Tools for Humanity to explore integrating Worldcoin’s identity verification technology into Malaysia’s blockchain infrastructure. Mimos clarifies scope of involvementMimos, under the Ministry of Science, Technology and Innovation, said its role in the collaboration is limited to technology assessment and development. “Our participation focuses on evaluating advanced technologies for potential use cases,” the agency said in an emailed statement, adding that all initiatives are guided by national priorities and regulatory frameworks to ensure data security, trust and governance. The agency reiterated its commitment to supporting Malaysia’s digital transformation agenda through research and strategic partnerships that strengthen the local technology ecosystem. Zetrix AI distances itself from Worldcoin’s operationsZetrix AI clarified that neither Worldcoin Foundation nor Tools for Humanity operates any digital asset exchange business and that the company is unaware of any such activities in Malaysia. While Worldcoin conducts iris-scanning operations locally using its Orb devices, Zetrix AI said its involvement is limited to renting space at its nationwide branches. “Zetrix AI is not directly involved, although we do rent some space to them where appropriate,” the spokesperson said. Despite recent developments, Zetrix AI maintains that its collaboration with Mimos and Tools for Humanity continues to hold potential for advancing Malaysia’s blockchain infrastructure initiatives.

SINGAPORE, Singapore-based Equator Renewables Asia and China’s state-owned CRE International (CREI), a subsidiary of China National Nuclear Corp, have teamed up to develop a major solar and battery project in Indonesia’s Riau Islands to export clean electricity to Singapore. The partners plan to complete construction of a 900-megawatt (MW) solar photovoltaic (PV) plant and a 1.2 gigawatt-hour (GWh) battery energy storage system (BESS) by 2029, which will generate about 830 GWh of renewable energy annually, Equator said in a statement on Tuesday. Under the collaboration, CREI will lead investments, construction, and operations for the solar and battery facilities, while Equator will oversee transmission and coordinate power offtake arrangements. The multibillion-dollar project marks Equator’s first under Singapore’s cross-border renewable energy import initiative with Indonesia. The company is among six firms granted conditional approval to supply low-carbon electricity to Singapore. Financial terms were not disclosed. Cross-border grid links are seen as vital for Southeast Asia’s energy transition, reducing the region’s dependence on fossil fuels. Singapore aims to import around six gigawatts (GW) of low-carbon electricity by 2035, representing roughly one-third of its power needs. The city-state currently sources about 1% of its clean power from Malaysia.

BEIJING, China has left electric vehicles (EVs) out of its list of strategic industries in the upcoming 15th five-year plan (2026–2030) — the first time in over a decade — as the country contends with mounting oversupply and intense competition in the sector. New energy vehicles (NEVs), which include EVs, plug-in hybrids and fuel cell cars, were previously designated as strategic emerging industries across the last three five-year plans, a move that helped cement China’s global dominance in EV production and technology through massive state subsidies and local government incentives. However, the latest plan, announced by state news agency Xinhua on Tuesday, shifts the government’s focus toward emerging fields such as quantum technology, bio-manufacturing, hydrogen energy and nuclear fusion — notably omitting NEVs from the list of priority sectors. While automobiles were briefly mentioned alongside housing, the government’s emphasis was on stimulating consumption by easing purchase restrictions rather than promoting industrial expansion. The full plan is expected to be officially approved at the National People’s Congress in March next year. China’s auto industry — the world’s largest — has been grappling with chronic overcapacity, a fierce price war and relentless competition among dozens of domestic EV makers. The saturation has prompted growing concern within Beijing over resource misallocation and unsustainable investment. Commenting on the plan, President Xi Jinping cautioned against “blind expansion” into trendy sectors, stressing the need for a more measured and coordinated approach to technological and industrial development. Earlier this year, Xi also questioned whether every province needed to pursue investments in sectors like artificial intelligence, computing power and EVs. Since launching its EV push in 2009, China has transformed cities such as Hefei and Xi’an into manufacturing hubs. Yet, with a glut in the domestic market and rising trade frictions threatening exports, the government appears to be recalibrating its priorities toward new frontiers of scientific innovation and energy technologies.

KUALA LUMPUR, Yinson Holdings Bhd announced that its subsidiary, Yinson Renewables, has obtained approval from New Zealand’s Overseas Investment Office (OIO) to proceed with its renewable energy investments in the country. In a statement, Yinson said the approval marks a significant step forward for the group’s renewable energy expansion plans in New Zealand, where it has been actively investing in the wind energy sector over the past four years. While specific project details were not disclosed, the company noted that the OIO’s endorsement will enable it to accelerate the development of its clean energy pipeline in the country. Group executive chairman Lim Han Weng said the company remains committed to building a long-term presence in New Zealand by working closely with the government, local partners and surrounding communities to help advance the nation’s renewable energy goals. New Zealand Prime Minister Christopher Luxon also highlighted the approval as a milestone, describing Yinson Renewables’ projects as a major contribution to the country’s renewable energy infrastructure. At the close of trading on Tuesday, Yinson’s shares slipped two sen or 0.84% to RM2.35, valuing the group at RM7.56 billion.

KUALA LUMPUR, PJBumi Bhd’s 90%-owned subsidiary, PT Indodrill Bumi Perkasa, has entered into a two-year umbrella agreement to provide oil and gas (O&G) well maintenance services to Indonesian operator KSO PT Pertamina-PT Petro Papua Mogoi Wasian. In a filing with Bursa Malaysia on Monday, PJBumi said the agreement, signed on Oct 24, marks a significant step in strengthening its presence in Indonesia’s upstream O&G sector. The contract runs until Oct 23, 2027. Under the arrangement, Indodrill Bumi Perkasa will provide a range of well maintenance and related technical services to support the operator’s production activities in the Mogoi Wasian block. The company noted that the value of the agreement cannot be determined at this stage, as it will depend on specific service orders issued throughout the contract period. KSO PT Pertamina-PT Petro Papua Mogoi Wasian is a joint operating entity formed between PT Pertamina EP — a subsidiary of Indonesia’s state-owned oil company Pertamina — and PT Petro Papua Mogoi Wasian. The partnership manages exploration and production activities within the Mogoi Wasian concession area, located in Indonesia’s eastern region. PJBumi said the latest agreement reflects the group’s strategic ambition to expand its regional footprint by leveraging its technical expertise through Indodrill Bumi Perkasa, which offers integrated engineering and O&G support services, including well maintenance, workover, and drilling support solutions. “The collaboration strengthens PJBumi’s position in Indonesia’s upstream services market and aligns with the group’s broader strategy to diversify its revenue base beyond Malaysia,” the company said. PJBumi also noted that Indodrill Bumi Perkasa is 90%-owned by the group, though it did not identify the owner of the remaining 10% stake. The company added that the deal is expected to contribute positively to the group’s earnings over the duration of the contract, depending on the volume of work orders received. Shares in PJBumi closed six sen or 2.24% higher at RM2.74 on Monday, giving the group a market capitalisation of RM224.68 million.

PETALING JAYA, Kawan Renergy Bhd, through its wholly-owned subsidiary Kawan Engineering Sdn Bhd (KESB), has accepted a contract from Govi Cast Sdn Bhd to carry out the engineering, procurement and construction (EPC) of an additional chemical production line at Govi Cast’s factory in Port Klang. According to the group’s filing with Bursa Malaysia, the project carries a total contract value of RM12.75 million and is scheduled to be completed, delivered, and commissioned by May 1, 2026. The contract marks another milestone for Kawan Renergy’s engineering division and reinforces the group’s position as a trusted partner in delivering high-quality EPC solutions within Malaysia’s industrial and energy sectors. Kawan Renergy said the new project is expected to contribute positively to the group’s earnings and net assets for the financial year ending Oct 31, 2026, while further strengthening its project portfolio in the chemical processing segment. “KESB does not foresee any exceptional risks other than the normal operational risks associated with the project,” the company said, adding that it remains confident in its ability to execute the works efficiently within the stipulated timeframe. For the third quarter ended July 31, 2025, Kawan Renergy reported a net profit of RM7.49 million, an increase from RM5.31 million recorded in the same period last year. Revenue also rose to RM35.05 million from RM31.82 million previously, driven by higher project activity and improved operational margins. The group noted that the latest contract win aligns with its ongoing efforts to expand its presence in the renewable and industrial energy sectors, reflecting steady progress in its strategic growth initiatives.

KUALA LUMPUR, Vantris Energy Bhd’s joint-venture (JV) company, Rawabi Sapura Ltd Co, has secured a seven-year contract from Saudi Arabian Oil Co (Aramco) to provide comprehensive diving support services in Saudi Arabia, marking a significant milestone in the group’s international expansion efforts. In a filing with Bursa Malaysia, Vantris Energy — formerly known as Sapura Energy Bhd — said the long-term agreement covers the provision of diving support vessels with crew, remotely operated underwater vehicles (ROVs), and the deployment of highly skilled diving and technical personnel to support Aramco’s offshore operations. The contract, which takes effect from May 1, 2027, and runs through April 30, 2034, encompasses a wide range of underwater activities, including inspection, survey, photography, non-destructive testing, structural maintenance, and repair works. These services are crucial in ensuring the operational integrity and safety of Aramco’s offshore infrastructure in the Arabian Gulf. Vantris Energy group chief executive officer Muhammad Zamri Jusoh said the award reaffirmed the group’s capability and reputation in delivering world-class offshore and subsea solutions. He noted that the partnership demonstrates confidence from a global energy leader and reinforces Vantris Energy’s position as a trusted service provider in the international oil and gas market. “This achievement validates our strategic direction to strengthen our operations and maintenance portfolio while expanding beyond Malaysian waters,” he said. “It is a testament to the technical expertise, safety standards, and reliability of our team and our long-standing collaboration with Rawabi Holding in Saudi Arabia.” The company added that the contract is expected to contribute positively to the group’s earnings and enhance its order book, underscoring Vantris Energy’s commitment to sustainable growth through diversification and global partnerships.

KUALA LUMPUR, Petroliam Nasional Bhd (Petronas), via its upstream subsidiary Petronas Carigali Sdn Bhd, has formalised a strategic collaboration with Oman-based OQ Exploration and Production New Ventures LLC (OQEP) to jointly pursue opportunities in oil and gas exploration and production across key markets in the Middle East and Southeast Asia. The partnership was cemented with the signing of a memorandum of understanding (MOU) at OQEP’s headquarters in Muscat, Oman, marking a significant step in strengthening bilateral cooperation in the upstream energy sector. OQEP is a wholly owned subsidiary of OQ Exploration and Production SAOG, one of Oman’s leading national energy companies. According to Petronas, the MOU sets out a framework for collaboration that will combine the multinational company’s international upstream expertise with OQEP’s deep regional knowledge and operational experience. The agreement is expected to unlock new growth opportunities, facilitate knowledge sharing, and accelerate value creation in both mature and emerging markets. “Aligning our strengths with OQEP’s strategic direction allows us to pursue high-impact projects and enhance our global upstream portfolio,” said Mohd Redhani Abdul Rahman, Petronas’ vice president of international assets. “This partnership is a meaningful step forward in building a resilient and competitive upstream business, leveraging our complementary capabilities to explore and develop energy resources more efficiently.” Petronas has maintained a presence in Oman since 2018 and currently holds participating interests in Block 61. The collaboration with OQEP is intended to build upon the company’s growing track record in the region, anchored on mutual trust, industry expertise, and shared goals of operational excellence. The MOU also opens avenues for co-investment, technical cooperation, and joint project evaluation, allowing both parties to explore potential upstream ventures that may include conventional oil and gas fields as well as frontier energy resources. “This partnership underscores Petronas’ commitment to expanding its global upstream footprint and diversifying its portfolio across strategic geographies,” the company added. “By leveraging OQEP’s in-depth local knowledge and regulatory insights, we aim to optimise exploration and production outcomes while delivering sustainable value to stakeholders in both countries.” The agreement reflects the growing trend of cross-border collaborations in the energy sector, as national and international players seek synergies to navigate a dynamic market environment, mitigate operational risks, and respond to increasing global energy demand. Petronas and OQEP plan to identify and evaluate specific upstream projects over the coming months, with the MOU providing a foundation for detailed project agreements, technical exchanges, and strategic planning to maximise the potential of jointly pursued ventures. This collaboration is expected to further strengthen Oman-Malaysia energy ties and contribute to long-term regional energy security, while also supporting both companies’ ambitions to expand their presence in key upstream markets.

KUALA LUMPUR, Educational publisher Sasbadi Holdings Bhd has partnered with digital solutions provider Agmo Holdings Bhd (KL:AGMO) to develop Malaysia’s first large language model (LLM) tailored specifically for the education sector. The collaboration will operate through a joint venture company, Penerbitan Minda Sdn Bhd, under a joint venture and shareholders’ agreement (JVA) signed on Oct 18. Sasbadi’s subsidiary, Sasbadi Online Sdn Bhd, will hold a 55% stake, while Agmo’s wholly owned unit, Agmo Capital Sdn Bhd, will own 45%, according to Bursa Malaysia filings. The venture aims to create an education-focused LLM to power AI-driven tutoring, adaptive learning platforms, and intelligent content creation tools. Sasbadi brings over 40 years of educational expertise and proprietary content for model training, while Agmo will handle technical development, architecture, and integration using advanced techniques such as natural language processing (NLP) and reinforcement learning from human feedback (RLHF). The model will align with Malaysia’s national curriculum and provide personalised, bilingual learning experiences for students and educators. “This partnership marks a significant step in Sasbadi’s digital transformation,” said Sasbadi group managing director Law King Hui. “By combining our education expertise with Agmo’s AI capabilities, we are building a localised LLM that could transform how Malaysians learn and teach.” Agmo CEO Tan Aik Keong added that the collaboration is expected to drive innovation and create substantial value for the education sector and shareholders. Sasbadi noted that the model could also be adapted in the future for corporate training, language learning, and knowledge management, tapping into the growing EdTech and AI markets in Southeast Asia. This initiative follows the launch of Ilmu 0.1 by YTL Power International Bhd, a Malaysia-developed LLM that demonstrated strong performance in Bahasa Melayu comprehension, surpassing global models including OpenAI’s GPT-4o and Agmo’s Merdeka-LLM on the Malay MMLU benchmark. At Tuesday’s market close, Sasbadi shares remained at 15 sen, giving it a market capitalisation of RM65.42 million, while Agmo shares rose 0.5 sen or 1.18% to 43 sen, valuing the company at RM139.8 million.

KUALA LUMPUR, Taiwan and Malaysia have deepened their cooperation in technology and innovation through the Startup Challenge 2025, which saw four Taiwanese startups advance to the City Category final organised by Taiwan’s Small and Medium Enterprise and Startup Administration (SMESA). In a statement today, SMESA said the initiative aims to promote technological innovation that enhances social well-being and sustainability, while helping Taiwanese startups integrate into Selangor’s thriving tech ecosystem and explore cross-border business opportunities. After a three-stage selection process — preliminary, semi-final, and final — the top four teams arrived in Selangor in mid-August to install systems, test their solutions, and collect data to validate performance before presenting their results during the final pitch on Oct 15. According to SMESA, the challenge featured two problem statements proposed by the Selangor Information Technology and Digital Economy Corporation (SIDEC) — a Library Control System for the Raja Tun Uda Public Library, and a Low-Carbon Data Centre for the Malaysia Semiconductor IC Design Park. Both projects are designed to create smarter public facilities and more sustainable data infrastructure, reinforcing Selangor’s position as a leading regional innovation hub. The final results will be announced in Taiwan next month. James Chang, director of the Economic Division of the Taipei Economic and Cultural Office in Malaysia, said the challenge reflects the strong and enduring economic ties between Taiwan and Malaysia. “Last year, Taiwan surpassed Japan to become Malaysia’s fourth-largest trading partner, and this year’s trade is expected to perform even better, recording a 36 per cent increase from January to August,” he said. Chang also expressed appreciation for SIDEC’s ongoing support of Taiwanese businesses, describing the Startup Challenge as “a meaningful platform to deepen collaboration and attract more investments to Selangor.” Meanwhile, SIDEC chief operating officer Loo Chuan Boon said the corporation was pleased to collaborate with the Taiwan Computer Association (TCA) for the second consecutive year. “Initiatives such as improving the public library experience and advancing the environmental, social, and governance (ESG) aspects of data centres reflect our shared goal to build a more dynamic and sustainable tech ecosystem,” he said. In the Green Smart Library Transformation category, Gotspeed IT Service developed an integrated system that allows staff to operate the library terminal via a smartphone application instead of a fixed device — reducing energy consumption, maintenance costs, and capital expenditure. Another participant, Skyverge Innovations, introduced a paperless RFID asset-tracking system that simplifies the borrowing and returning process while helping users locate books efficiently. Its energy-saving terminals can also be customised into creative designs, such as animal-shaped units, to engage younger readers. In the Low-Carbon Data Centre category, Meta Intelligence Ltd showcased its computational fluid dynamics simulation technology, which models and optimises data centre airflow to improve cooling efficiency. The system can reduce energy consumption by 20 to 30 per cent through dynamic mapping and adjustment based on server load and peak usage. Meanwhile, Chimes AI applied its manufacturing data analytics expertise to design a machine learning model capable of detecting anomalies and determining optimal operating parameters — significantly improving operational efficiency while reducing the carbon footprint of data centre operations. The Startup Challenge 2025 continues to serve as a key platform for fostering smart city innovation, enhancing Taiwan-Malaysia collaboration, and driving the growth of sustainable technologies across the region.