Energy & Technology

Nvidia Corp has sealed a major deal with South Korea’s largest conglomerates to supply its advanced AI technology, strengthening its global footprint in artificial intelligence infrastructure. In collaboration with the Ministry of Science and major corporate giants — Samsung Electronics Co, Hyundai Motor Group, and SK Group — Nvidia will deliver over 260,000 AI accelerator chips to power South Korea’s expanding AI ecosystem. Financial details of the deal were not disclosed. Nvidia CEO Jensen Huang is in South Korea, attending the Asia-Pacific Economic Cooperation CEO Summit on Friday. The agreements were formalised during the Asia-Pacific Economic Cooperation (APEC) CEO Summit 2025, attended by Nvidia chief executive officer Jensen Huang, who is on an international campaign to promote AI adoption and extend Nvidia’s technological reach. Under the partnership, the South Korean government plans to establish “sovereign AI” infrastructure, deploying more than 50,000 Nvidia accelerators in national data centres and facilities owned by Kakao Corp, Naver Corp, and NHN Cloud Corp. “South Korea’s goal is to become the AI capital of the Asia-Pacific region,” President Lee Jae Myung said in a statement. Samsung Electronics, one of the world’s largest chipmakers, will set up a massive “AI factory” equipped with over 50,000 Nvidia chips. The company is also in discussions to supply next-generation HBM4 memory to Nvidia, aiming to begin mass production soon. Hyundai Motor Group will deploy a similar number of Nvidia’s Blackwell chips to enhance its AI model development, manufacturing automation, and autonomous driving technologies. Both companies will jointly invest US$3 billion (RM12.6 billion) to build a national AI computing centre in South Korea. Meanwhile, SK Group, along with its affiliates SK Telecom Co and SK Hynix Inc, will roll out Nvidia’s RTX Pro 6000 Blackwell chips to power Asia’s first “industrial AI cloud”, supporting robotics and advanced AI applications. The latest wave of deals underscores Nvidia’s dominance in the global AI boom, which has propelled its market capitalisation past US$5 trillion earlier this week. However, questions remain over whether Nvidia will be allowed to sell its high-end Blackwell processors to China amid ongoing U.S. export restrictions. Huang told Bloomberg News that while he hopes to re-enter the Chinese market, there are currently no concrete plans. The United States has tightened export controls on advanced AI chips to China. While former U.S. President Donald Trump has expressed openness to discussing the issue with Beijing, it was reportedly not addressed in his recent meeting with President Xi Jinping.

KUALA LUMPUR, Malaysia’s ambitions to become a regional hub for artificial intelligence (AI) have taken a major step forward with the completion and launch of the country’s first Nvidia-powered AI data centre in Johor, developed by YTL Power International Bhd in collaboration with US technology giant Nvidia Corp. In a statement, YTL Power announced that the cutting-edge facility—powered by Nvidia’s latest liquid-cooled NVL72 Grace Blackwell (GB200) GPUs—is now fully operational and will anchor the new YTL AI Cloud, designed to deliver large-scale computing power for AI, high-performance computing (HPC), and machine learning workloads. The announcement followed a high-level meeting in Gyeongju, South Korea, during the Apec Leaders’ Economic Summit 2025, where Prime Minister Datuk Seri Anwar Ibrahim met with Nvidia founder and CEO Jensen Huang and YTL Power managing director Datuk Seri Yeoh Seok Hong. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz was also present. During the meeting, YTL Power briefed Anwar and Zafrul on the successful completion of the AI data centre, located within the 600MW YTL Green Data Center Park in Kulai, Johor. The facility is expected to serve as the foundation for Malaysia’s AI ecosystem, powering both government and citizen-facing AI applications under the YTL AI Cloud platform. Anwar congratulated YTL Power and Nvidia on the achievement, calling it “a significant milestone that strengthens Malaysia’s position in the global AI landscape.” He added that the project aligns with the government’s goal to make AI and digital innovation key drivers of the national economy. “I congratulate YTL and Nvidia on achieving this major milestone and hope it will accelerate Malaysia’s AI transformation for the benefit of all citizens,” said Anwar. Meanwhile, Zafrul noted that the government’s RM5.9 billion allocation under Budget 2026 aims to strengthen the country’s AI infrastructure, foster innovation, and attract more global tech investments. “This project exemplifies Malaysia’s readiness to lead in next-generation digital technologies,” he said. Yeoh said the new facility will deliver one of the world’s most advanced AI supercomputing systems, making Malaysia a key player in regional AI and data centre development. “With the YTL AI Cloud now operational, we are ready to support Malaysia’s growing demand for advanced AI capabilities across both public and private sectors,” he said. Located on a 1,640-acre campus in Johor, the data centre is powered by renewable energy from a 500MW solar plant. It is built to handle large-scale, high-performance AI and deep learning workloads, supporting enterprises, researchers, and government initiatives seeking sustainable computing power. On Friday, shares in YTL Power rose as much as 1.77% to RM4.02, before closing 1.01% higher at RM3.99, with 8.06 million shares traded. The utilities group currently holds a market capitalisation of RM34.63 billion, reflecting growing investor confidence in its expansion into digital infrastructure and AI-driven ventures.

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.