Energy & Technology

Plus Xnergy Services Sdn Bhd (Plus Xnergy), an indirect wholly-owned subsidiary of BM Greentech Bhd (BM GreenTech), has secured two landmark contracts worth RM71.76 million with Cenergi Aeropolis Renewable Energy Sdn Bhd (CARE) for one of Malaysia’s largest integrated self-consumption solar photovoltaic (PV) and Battery Energy Storage System (BESS) projects at KLIA Aeropolis. The company said it won the contracts, covering both engineering, procurement, construction, and commissioning (EPCC) as well as equipment and materials supply, following a competitive tender process for the development of a 36 megawatt-peak (MWp) ground-mounted solar PV power plant integrated with a 45 megawatt-hour (MWh) BESS. The facility, targeted for completion in the first half of 2027, is designed to meet the renewable energy demands of Kuala Lumpur International Airport (KLIA)’s daily operations. Once fully commissioned, the project is expected to generate approximately 46 gigawatt-hours (GWh) of clean electricity annually over a 25-year operational lifespan, while reducing carbon emissions by an estimated 35,000 tonnes of carbon dioxide equivalent (tCO2e) per year. In practical terms, the clean energy output from the facility could power around 13,400 homes annually or eliminate the equivalent emissions of 8,000 internal combustion engine vehicles from Malaysian roads each year. The addition of this solar PV and BESS integrated system underscores Plus Xnergy’s commitment to advancing large-scale renewable energy solutions and supporting Malaysia’s transition toward sustainable energy and carbon reduction goals. The project also highlights the company’s capability to deliver complex, high-value infrastructure that combines both solar energy generation and energy storage, enhancing the reliability and efficiency of clean energy supply for critical commercial and operational facilities like KLIA.

Elsoft Research Bhd plans to spend about RM20 million in 2026 to support its new and future business segments. The Penang-based automated test equipment (ATE) manufacturer invested over RM2 million in 2025 to develop kidney dialysis embedded systems and ultra-slim meta-lens test solutions. Elsoft Research spent over RM2 million in 2025 to develop kidney dialysis embedded systems and ultra-slim meta-lens test solutions. Group CEO Tan Cheik Eaik said Elsoft has secured orders for its embedded systems used in peritoneal kidney dialysis machines. “A local medical company placed an order for 2,000 embedded systems valued at RM10 million to RM12 million. Last year, we received orders for only 1,000 units,” he said. Elsoft is also developing new test solutions for ultra-slim meta-lenses used in consumer electronics. “Our traditional LED test solutions business has slowed, with its contribution dropping to 40% in 2025 from 80% in 2024, making diversification necessary,” Tan explained. He added that the meta-lens test solutions are priced at over RM1 million each and that orders are currently being secured. “The two new business segments will be the primary growth drivers from 2026 onwards,” he said. The peritoneal kidney dialysis market is expanding rapidly. “The peritoneal segment, estimated at US$6 billion in 2025, is projected to grow to US$11.6 billion by 2032, driven by the demand to decentralise renal care treatment,” Tan noted. The meta-lens market also shows strong growth potential. “Research projects the market to grow over 28% annually from 2025 to 2033. The market size, estimated at US$185 million in 2024, is expected to reach US$1.78 billion in 2033, driven by the miniaturisation of optical components in consumer electronics and applications in augmented and virtual reality,” he said. For the nine months ended Sept 30, 2025, Elsoft posted RM2.3 million in pre-tax profit on RM6.6 million in revenue, compared with RM3.5 million and RM10 million, respectively, in the same period of 2024. The lower revenue reflected softer demand across business segments, though the medical devices segment began contributing positively. The lower pre-tax profit was due to reduced revenue, partially offset by other income and lower administrative expenses. Looking ahead, Elsoft expects challenges to persist in its semiconductor segment, particularly in automotive, general lighting, and smart device markets due to soft demand and cautious customer spending. Meanwhile, the medical devices segment, which began contributing in Q4 2024, is expected to provide a more stable revenue stream and help offset the semiconductor slowdown.

Binastra Corporation Bhd’s wholly owned subsidiary, Binastra Green Energy Sdn Bhd (BGE), has signed a tripartite agreement linked to a RM305 million contract covering infrastructure and renewable energy projects. According to a Bursa Malaysia filing on Thursday, the agreement was signed with Bahru Stainless Sdn Bhd (BSSB) and Binastra Construction (M) Sdn Bhd (BCSB). Under the arrangement, BCSB takes over from BSSB as the client for the contract, while all existing terms and conditions remain unchanged. The contract, originally awarded via a letter of award on Oct 7, 2025, includes the design and construction of infrastructure works—such as site clearance, earthworks, civil and structural works—as well as a 65-megawatt peak solar photovoltaic system and a 200-megawatt-hour battery energy storage system. BCSB will now assume all rights and obligations of the original client, acting as both asset owner and financier for the project. The contract is classified as a recurrent related-party transaction of a revenue or trading nature, with shareholders’ approval obtained at the company’s annual general meeting on July 3, 2025. Datuk Tan Kak Seng, Binastra’s managing director, holds a direct 11.09% stake in the company and an indirect 41.18% interest via JT Conglomerate Sdn Bhd. BCSB is jointly owned by Tan (64.69%), his father Tan Nge (32.32%), and his mother Liu Soh Yon (2.99%), all of whom serve as directors of BCSB.

Indonesia has abandoned plans to introduce the mandatory B50 palm oil-based diesel this year, citing technical and funding concerns, and will continue with the existing B40 blend instead. The move eases pressure on global palm oil supplies, as the B50 mandate was expected to absorb an additional 2.2 million tonnes of crude palm oil (CPO) for domestic use. The B50 blend — 50% palm oil biodiesel and 50% conventional diesel — had been scheduled for rollout in the second half of 2026. Officials said the current B40 mandate, which contains 40% palm oil-based biodiesel, is sufficient given increased diesel output from the Balikpapan refinery. Trials for B50 in heavy machinery, trains, and other sectors will continue, with a potential future rollout dependent on the price gap between conventional diesel and palm oil fuel. The decision weighed on benchmark Malaysian palm oil prices, which fell 0.52% after the announcement, reversing earlier gains. Analysts noted the B50 scrapping reduces expected domestic palm oil absorption, potentially keeping prices under pressure and making Malaysian palm oil more competitive internationally. To sustain the biodiesel subsidy programme, Indonesia will raise its crude palm oil export levy to 12.5% from March 1, up from the current 10%, while levies on refined products will rise by 2.5 percentage points. The move is expected to support the Indonesian Estate Crop Fund Agency’s (BPDP) ability to fund the biodiesel programme, which this year is allocated 15.65 million kilolitres of palm oil-based diesel, including 7.45 million kilolitres subsidised. Industry groups welcomed the decision. GAPKI, the Indonesian Palm Oil Association, said sticking with B40 balances domestic demand, production, and exports, helping to maintain CPO prices and safeguard revenue from export levies. Meanwhile, the Indonesian Palm Oil Farmers Association (POPSI) noted that higher levies could shift some global demand to alternative suppliers like Malaysia. Overall, the government’s move reflects a cautious approach to biodiesel expansion, aiming to sustain domestic supply, manage subsidies, and protect Indonesia’s position in the global palm oil market.

TM Nxera has signed a multi-year power supply agreement with Tenaga Nasional Berhad (TNB) to secure 280 megawatts (MW) of electricity for its upcoming AI-ready, hyperconnected data centre campus in Iskandar Puteri, Johor. Phase one of the campus is scheduled to begin commercial operations later this year. The joint venture between Telekom Malaysia (TM) and Nxera, Singtel Group’s regional data centre arm, said the agreement is a key milestone in powering Malaysia’s digital economy and AI ambitions with reliable and sustainable energy. From left: TNB chief engineer (grid strategy), grid division Zalina Abdul Malek, TNB head of data centre, retail division Iskandar M Hussein, TNB senior chief network officer Ir. Mahathir Nor Ismail, TNB president / chief executive officer Datuk Ir. Megat Jalaluddin Megat Hassan, TNB chief retail officer Datuk Kamal Arifin A. Rahman, TM Nxera CEO Mahathir Said, TM Nxera and CEO of Singtel’s Digital InfraCo & Nxera Bill Chang, TM group CEO Amar Huzaimi Md Deris, TM Global executive vice president Khairul Liza Ibrahim and TM Nxera COO Benedict Kwok. “TM Nxera is more than just a data centre venture. This project will accelerate AI, cloud, and advanced technology adoption across industries,” said TM Nxera CEO Mahathir Said. “Securing 280MW of power enhances our ability to attract global technology investments and develop a thriving ecosystem for industrial growth in Malaysia.” The cloud-enabled, tier-three data centre campus is part of the Johor-Singapore Special Economic Zone and is designed to support large-scale AI workloads with a scalable capacity of over 200MW. It will serve hyperscalers, AI application providers, and enterprises, helping accelerate regional digital transformation and cloud adoption. Connectivity will be supported by TM and Singtel Group’s Digital InfraCo subsea cable networks, ensuring robust global reach and low-latency network performance, the company added. This campus represents one of Malaysia’s flagship digital infrastructure investments and is poised to strengthen the country’s position as a leading hub for cloud computing and AI innovation in the region.

A consortium led by Kinergy Advancement Bhd  has signed an equipment supply agreement for the planned 1.5-gigawatt (GW) combined cycle gas turbine (CCGT) power plant in Perlis. The consortium also includes Sirage Holdings Sdn Bhd and B.Grimm Power, a leading diversified energy company in ASEAN. The agreement covers the supply of a 9HA.02 gas turbine and an H78 generator for the first phase of the multi-phase Teknologi Tenaga Perlis Consortium (TTPC) project. Kinergy, the consortium lead, has evolved from an engineering contractor into a full-fledged project developer, managing power plant development, execution, and operations. Located on a brownfield site previously hosting a 650MW CCGT plant, the TTPC site provides access to existing transmission, gas, and water infrastructure, enabling faster development of the next-generation plant and supporting Malaysia’s energy transition goals. The project also bolsters Kinergy’s growth prospects, building on its experience as PETRONAS Gas Bhd’s local technical partner and main EPCC contractor for the 72MW Sipitang and 120MW Labuan gas engine plants, highlighting its capacity to handle larger EPCC projects.

Alam Maritim Resources Bhd, an oil and gas services provider, has secured a RM29 million contract to carry out free-span rectification work on a gas pipeline offshore Terengganu. The contract was awarded by Vestigo Petroleum Sdn Bhd and involves rectifying unsupported sections along the 60km Tembikai Non-Associated Gas pipeline, with the project expected to be completed within six months, according to a filing with Bursa Malaysia on Thursday. Free-span rectification refers to the repair and support of pipeline sections that are suspended or not properly resting on the seabed, ensuring the integrity and safety of offshore infrastructure. The award marks a significant win for Alam Maritim, which has previously worked with Vestigo on the Tembikai gas development project. The two companies had been involved in a legal dispute over unpaid work under a 2019 contract, which was resolved in April 2025 when Vestigo agreed to drop its lawsuit challenging a RM52.79 million adjudication award in favor of Alam Maritim. The latest contract reinforces Alam Maritim’s expertise in offshore pipeline services and its capability to handle technically complex projects. It also highlights the company’s ongoing collaboration with key players in Malaysia’s energy sector, as demand for reliable oil and gas infrastructure continues to grow. Following the announcement, Alam Maritim’s shares closed one sen lower at 31.5 sen, representing a 3.08% decline and giving the company a market capitalisation of RM138.16 million.

Orkim Bhd, an oil and gas shipping company, has secured a two-year marine transportation contract from petrol retailer Boustead Petroleum Marketing Sdn Bhd (BHPetrol), with an option to extend for a further year. Under the agreement, effective from Jan 1, 2026, to Dec 31, 2027, Orkim will provide marine transport services for an estimated 200,000 tonnes of petroleum products annually, subject to a ±20% variation. The contract’s value will depend on cargo nominations issued by BHPetrol and the agreed schedule of rates. BHPetrol is one of Orkim’s top five clients, collectively accounting for over 90% of the company’s revenue, alongside Petroliam Nasional Bhd, Shell Group, Petron Malaysia Refining & Marketing Bhd, and Japan-based Nippon Gas Line Co Ltd. Orkim shares closed unchanged at RM1.09 on Thursday, giving the company a market capitalization of RM1.09 billion. The firm made its Main Market debut on Dec 9, 2025, at an IPO price of 92 sen.

Chinese independent refiners, often called “teapots,” are expected to switch from Venezuelan crude to heavy oil from other sources, including Iran, in the coming months, according to traders and analysts. The shift comes after Venezuelan shipments to China slowed following the US capture of President Nicolas Maduro and a new US-Venezuela agreement to export crude to the United States. Analysts say the reduction in Venezuelan supply will affect teapots that rely on discounted heavy barrels, but ample supplies from Russia and Iran mean refiners can maintain operations without paying higher prices. In 2025, China imported around 389,000 barrels per day of Venezuelan crude, about 4% of its total seaborne imports. Venezuelan crude already en route to Asia is enough to cover roughly 75 days of Chinese demand, providing some short-term buffer. Traders expect teapots to begin switching to Russian and Iranian crude in March and April, with additional alternatives available from Canada, Brazil, Iraq, and Colombia. Iranian Heavy crude, priced about US$10 below ICE Brent, is seen as the cheapest option. Other potential replacements include Middle Eastern grades such as Iraqi Basrah, while Canadian crude discounts have widened recently due to lower expected demand from China.

Vantris Energy Bhd, through its indirect wholly owned subsidiary Sapura Offshore Sdn Bhd, has secured offshore transportation and installation (T&I) work orders in Malaysia from PETRONAS Carigali Sdn Bhd with a total contract value of RM1.4 billion. In a filing with Bursa Malaysia, the group — formerly known as Sapura Energy Bhd — said the awards cover T&I services for offshore facilities under the Sepat integrated redevelopment project and the Belud South greenfield development project, in line with its existing offshore facilities T&I contract. Vantris said it is well-positioned to continue strengthening operational excellence across all its businesses. The work orders are expected to begin in the first quarter of 2026. The Belud South scope is targeted for completion by the fourth quarter of 2027, while the Sepat project is scheduled to be completed by the third quarter of 2029. Vantris said the projects will be carried out by its engineering and construction (E&C) division, reflecting the group’s continued focus on strengthening the segment through disciplined execution of its core competencies and a strategic shift towards lower-risk contracting structures. Group chief executive officer Muhammad Zamri Jusoh said the contract wins highlight Vantris Energy’s offshore T&I capabilities and its commitment to delivering sustainable performance across its core businesses. “These awards reinforce our strategy of pursuing opportunities that align with our technical strengths, regional presence and risk appetite,” he said. Following the completion of its restructuring in September 2025, Vantris noted that its improved balance sheet places the group in a stronger position to enhance operational excellence and maintain momentum in project execution and delivery.