Energy & Technology

Uzma Bhd said its subsidiary, Setegap Ventures Petroleum Sdn Bhd, has secured a RM60 million contract from EnQuest Petroleum Production Malaysia Ltd. In a filing with Bursa Malaysia, the group said the two-year contract runs from Feb 19, 2026 to Feb 18, 2028, covering the provision of an integrated well intervention and project management team under the 2026/2027 EnQuest Well Intervention Programme (Package A8). The scope includes the supply, maintenance and support of tools, equipment, accessories and spare parts for well intervention services. Uzma said the contract will not impact its share capital or shareholding structure, but is expected to contribute positively to earnings and net assets per share from the financial year ending June 30, 2026, through to the contract’s completion.

Grab has unveiled 13 new AI-powered features at its GrabX 2026 showcase, positioning its platform as a smarter, everyday companion for users across Southeast Asia. Chief Product Officer Philipp Kandal said the new tools aim to help users make better decisions, reduce friction in mobility and digital services, and enable merchants and driver-partners to operate more efficiently. He added that the rollout reflects Grab’s push to make AI practical and accessible, acting as a “smart companion” that handles everyday tasks so users can focus on their daily lives. The features are grouped into three areas — everyday lifestyle, travel, and business tools — powered by Grab’s Intelligence Layer, built on insights from more than 20 billion rides and orders. In Malaysia, five features are being introduced, including Group Ride, which allows up to four users to share trips and split fares, and Grab More, which enables orders from multiple nearby merchants in a single delivery without extra fees. Other consumer features include GrabMaps for Consumers, offering journey planning, real-time transport comparisons, indoor navigation and personalised directions, as well as a Driver AI Assistant that provides real-time support on navigation and earnings. Grab said Cloud Printer will roll out in Malaysia this month to automate order processing between front counters and kitchens, helping to reduce errors. Looking ahead, Cash Loan — an AI-driven credit feature with flexible repayment plans — is expected by mid-2026, followed by Personalised Travel Experience and GrabStays in the third quarter. The travel feature will integrate flight details, reminders and airport navigation, while GrabStays will offer hotel bookings with same-day rates. Additional features include Discover by Grab, which provides AI-curated food recommendations, and GrabPay for Travel, enabling QR-based payments across Southeast Asia using existing bank cards without the need for top-ups. These are expected to roll out by end-2026. All features are supported by Grab’s AI infrastructure, which turns real-world data such as traffic and in-store activity into actionable insights to improve decision-making and automate tasks. The company also said its Early Access Programme has grown to 200,000 users, contributing around 4,000 feature improvements since launch. A new “shake and share” function has been introduced to allow users to submit instant feedback. Grab noted that rollout timelines will vary by market, depending on regulatory approvals and operational readiness.

Standard Chartered has launched its first Global Fusion Centre in Malaysia to support its global operations. Located at its Global Business Services (GBS) hub in Kuala Lumpur, the centre integrates people, technology and intelligence functions to enhance real-time response and operational coordination. The facility aims to strengthen resilience across the bank’s operations while reinforcing trust with clients, regulators and stakeholders. The centre sits within Standard Chartered’s GBS Malaysia unit, established in 2001 as the country’s first multi-disciplinary global business services centre by an international bank. Today, the unit supports operations in over 50 markets and is the group’s second-largest GBS hub after India, employing more than 4,400 staff—85% of whom are Malaysians. Gobind Singh Deo, Malaysia’s Digital Minister, said the initiative highlights the country’s strength in talent and its position as a trusted regional hub for digital services, technology and high-value operations. Meanwhile, Mak Joon Nien, CEO of Standard Chartered Malaysia, said the move supports Malaysia’s ambition to become a global technology hub, in line with national priorities such as strengthening digital infrastructure, cybersecurity and developing future-ready talent as the country works towards its AI goals by 2030.

Mastercard has rolled out authenticated agentic payment transactions in Singapore and Malaysia, marking the first phase of its AI-powered payments push in ASEAN. The rollout was carried out with United Overseas Bank (UOB) for regional testing, alongside local banks in each market to support implementation. More ASEAN markets are expected to follow. The pilots aim to pave the way for wider adoption on trusted payment rails as more participants join the ecosystem. The initiative is powered by Mastercard Agent Pay, which enables AI-driven transactions using tokenised credentials, verifiable intent and end-to-end auditability via Agentic Tokens and Payment Passkeys. This ensures transactions initiated by AI remain aligned with user authorisation. Mastercard said “verifiable intent”, co-developed with Google, creates a tamper-resistant record of user-approved actions when AI agents transact on their behalf, providing a shared reference for issuers, merchants and consumers. Separately, Mastercard plans to launch a regional AI Centre of Excellence in Singapore later this year. The facility will be its largest innovation hub in Asia-Pacific, bringing together capabilities in AI, cybersecurity, payments, fraud detection and real-time risk management. Jacquelyn Tan said the collaboration highlights how trusted, AI-enabled payments can enhance everyday banking and commerce across diverse markets, while maintaining strong governance as adoption scales. Safdar Khan said the rollout underscores ASEAN’s rapid uptake of secure, AI-driven commerce, adding that early pilots show AI agents can operate responsibly and transparently with transactions anchored in verified user intent.

Sunview Group Bhd’s consortium, comprising its wholly-owned subsidiary Fabulous Sunview Sdn Bhd and Cypark Renewable Energy Sdn Bhd, has secured a RM1.96 billion contract from TNB Power Generation Sdn Bhd (TNB Genco) for a major renewable energy project. The consortium, known as Consortium Cre-Sunview, received a letter of acceptance (LOA) for the engineering, procurement, construction, and commissioning of a 595-megawatt alternating current (MWac) floating solar photovoltaic plant, paired with a battery energy storage system at Kenyir Lake, Terengganu. Within the unincorporated joint venture, Cypark Renewable Energy holds a 60% stake, while Fabulous Sunview owns 40%. The project, including all applicable taxes, duties, fees, and sales and service tax (SST), is scheduled to start on 2 June 2026 and is targeted for completion by 29 September 2028. Sunview said the contract is expected to contribute positively to the group’s future earnings, without affecting its share capital or the holdings of substantial shareholders. TNB Genco, the contracting party, is a wholly owned subsidiary of Tenaga Nasional Bhd, and this project reinforces Malaysia’s commitment to renewable energy and sustainable power generation.

MHS Aviation Bhd, a subsidiary of Boustead Holdings Bhd, has signed a Memorandum of Understanding (MOU) with Vertiport Malaysia Sdn Bhd, the commercial arm of Universiti Malaysia Perlis (UniMAP), to strengthen Malaysia’s unmanned aviation capabilities. Datuk Shaiful Hazizy Zainol Abidin and Mohd Fakhrul Arifin Adinan at the MOU signing ceremony between Vertiport Malaysia and MHS Aviation Berhad in Perlis. In a statement, MHS Aviation said the collaboration supports the Airspace Sandbox initiative announced under Budget 2026, which serves as a national platform for testing and developing low-altitude flight technologies, including Unmanned Aircraft Systems (UAS) and autonomous aviation solutions. The partnership aims to enhance Malaysia’s UAS ecosystem across both civil and defence applications by combining academic expertise with industry capabilities and operational experience. Under the MOU, both parties will collaborate on training, research, and innovation in unmanned aviation. Key focus areas include operational deployment of UAS, particularly Beyond Visual Line of Sight (BVLOS) capabilities, as well as maintenance, repair and overhaul (MRO) services, and training and certification programmes covering operations, management, and maintenance. The collaboration will also involve joint efforts to promote and develop UAS-related services and capabilities. The agreement also sets the stage for further due diligence, including obtaining approvals from the Civil Aviation Authority of Malaysia (CAAM) and developing operational frameworks such as standard operating procedures and operations manuals. MHS Aviation CEO Mohd Fakhrul Arifin Adinan said the partnership reflects the company’s commitment to building next-generation aviation capabilities in Malaysia, adding that the collaboration with UniMAP will support scalable and future-ready unmanned solutions aligned with national priorities. Boustead Holdings group managing director Ahmad Sabirin Arshad said the initiative highlights the group’s strategic role in strengthening Malaysia’s defence and aerospace ecosystem, particularly in emerging technologies such as unmanned systems. Meanwhile, UniMAP vice-chancellor Zaliman Sauli said the collaboration will help position Malaysia as a regional leader in aviation and drone technology, while supporting the development of high-skilled talent in aeronautics and unmanned systems.

Oiltek International has signed a heads of agreement with Brunei-based Bioseaga Industries to develop a US$350 million sustainable aviation fuel (SAF) plant in Sabah, marking a major project for the company. For comparison, Oiltek’s total order book stood at RM350 million as at Feb 23. Under the agreement, Oiltek will act as the exclusive contractor for the project and may also consider taking an equity stake at a later stage. The proposed plant is expected to have a production capacity of approximately 300 metric tonnes per day. Bioseaga Industries, part of the BioSeaga group, focuses on food security initiatives as well as renewable and sustainable fuel development. The collaboration is expected to support the growth of sustainable aviation fuel production in the region. Oiltek said the project represents a strategically significant opportunity to strengthen its participation in the fast-growing SAF value chain. By serving as the exclusive contractor, the company believes it will further reinforce its position as a solutions provider in renewable fuels and sustainable energy infrastructure.

MN Holdings Bhd has secured a RM128 million contract to build a 275-kilovolt (kV) consumer landing station (CLS) for a data centre in central Peninsular Malaysia. The contract was awarded to its wholly owned subsidiary, MN Power Transmission Sdn Bhd, by a client providing infrastructure for hosting, data processing, and related services. The project scope includes construction, supply, installation, testing, and commissioning of the CLS, as well as building works, external works, and infrastructure utilities, ensuring the landing station is fully operational to meet the data centre’s power requirements. The project started on 10 February 2026 and is expected to be completed by 17 December 2026. This follows a strong year for MN Holdings, which has already secured RM720 million in new contracts so far, exceeding earlier expectations. According to AskEdge, MN Holdings trades at a 15.7 times trailing price-to-earnings (P/E) ratio, notably lower than peers such as UUE Holdings Bhd (60.7x), Kinergy Advancement Bhd (27.8x), Jati Tinggi Group Bhd (25x), and CBH Engineering Holdings Bhd (19.8x). On Thursday, MN Holdings’ shares closed four sen lower at RM1.75, giving the company a market cap of RM1.16 billion, despite a 62% increase over the past year, reflecting strong confidence in its order book and growth prospects. The CLS project reinforces MN Holdings’ expertise in high-voltage infrastructure and its ability to deliver large-scale, complex projects critical to the operation of data centres, a key component of Malaysia’s growing digital economy.

Ni Hsin Resources Bhd has announced a strategic partnership aimed at accelerating the adoption and deployment of electric vehicles (EVs) in Malaysia. The collaboration focuses on strengthening EV infrastructure, enhancing technology integration, and supporting local fleet electrification initiatives. While details of the partnership are yet to be fully disclosed, industry sources indicate that the tie-up will involve joint efforts in charging infrastructure, battery solutions, and EV ecosystem development across key urban and industrial areas in the country. The move aligns with Malaysia’s broader push towards sustainable mobility and the government’s target to increase EV adoption as part of its green transition roadmap. By leveraging Ni Hsin’s expertise in automotive and industrial solutions, the partnership aims to address challenges in EV deployment, such as limited charging networks and operational efficiency for fleets. Ni Hsin’s management said the partnership underscores its commitment to supporting Malaysia’s energy transition while expanding its footprint in the growing EV sector. The company expects the collaboration to create opportunities for long-term growth, both in EV infrastructure and related services.

Dialog Group Bhd has finalised and signed the Cendramas production sharing contract (PSC) with Petroliam Nasional Bhd (PETRONAS) and its partners, marking a further expansion of the group’s upstream oil and gas portfolio. In a filing with Bursa Malaysia, Dialog said its wholly owned subsidiary Dialog Resources Sdn Bhd will hold a 25% non-operating interest in the PSC. The stake will be held alongside EnQuest Petroleum Production Malaysia Ltd, which will also own 25%, while Medco Asia Pacific Ltd will serve as the operator with a 50% participating interest. The Cendramas PSC, located offshore Peninsular Malaysia, includes a series of minimum work commitments aimed at optimising the field’s potential. These include the drilling of appraisal and infill wells, development of discovered resources, and asset life extension initiatives to maximise production and operational efficiency over the contract period. The PSC is scheduled to take effect on 23 September 2026 and will run for 20 years, providing the partners with a long-term framework for exploration, development and production activities. Dialog said its participation in the Cendramas PSC aligns with its strategy to strengthen and grow its upstream segment, while leveraging collaboration with experienced regional operators. The move is also expected to enhance the group’s exposure to production assets and support its long-term earnings visibility.