Energy & Technology

Electrical engineering service provider, HE Group Berhad (“HE Group” or the “Company”) through its wholly-owned subsidiary, Hexatech Engineering Sdn. Bhd., has accepted a Letter of Award totalling approximately RM86 million for the construction of a substation in Selangor. Under the scope, HE Group will construct a 132 kilovolts/33 kilovolts substation, with completion targeted by 31 October 2027. This contract is expected to contribute positively to the Company’s financial performance over its duration. Following the latest award, HE Group’s order book stood at approximately RM150 million as at 11 May 2026, providing the Group with a steady pipeline of works and earnings visibility. Managing Director of HE Group, Mr. Haw Chee Seng said, “This contract further strengthens our track record in undertaking power distribution system and substation related works, particularly involving critical electrical infrastructure. With multiple projects currently in hand, the latest award enhances our earnings visibility as we continue to pursue opportunities in high growth end-user industries. “At the same time, we are progressively expanding our exposure towards industries supported by long-term structural growth trends, particularly data centres, semiconductors, and renewable energy related infrastructure. Malaysia’s growing position as a regional digital and technology hub, alongside ongoing investments into the semiconductor supply chain and energy transition initiatives, provides a strong platform for us to secure further contracts in these segments,” he concluded.

In a move to advance Kedah’s digital infrastructure and connectivity agenda, EDOTCO Malaysia subsidiaries Tanjung Digital Sdn Bhd (TDSB) and Yiked Bina Sdn Bhd (Yiked Bina) today formalised a Telecommunications Infrastructure Deployment Agreement with the Kedah State Government. Under the agreement, TDSB has been appointed as a State Deployment Partner for 15 years, working closely with the State Secretary of Kedah (Incorporated) (SSK), which serves as the One Stop Agency (OSA), to streamline and coordinate telecommunications infrastructure development across the state. The signing of the Telecommunications Infrastructure Deployment Agreement of Tanjung Digital Sdn. Bhd. and Yiked Bina Sdn. Bhd. featuring (from left) Hasnul Hamdi, Manager of YBSB; Datuk Azam, BOD of Tanjung Digital; Dato’ Balan, BOD of Tanjung Digital; Gayan Koralage, Director of Malaysia Business, EDOTCO; Mohd Isham Ishak, Director of YBSB; and Lt. Khirul Annuar, Head of In-Building Solutions. Yiked Bina, a licensed Network Facilities Provider (NFP) and wholly-owned subsidiary of TDSB, will lead on-ground deployment, expanding coverage and enabling faster delivery of connectivity infrastructure for Mobile Network Operator (MNO) partners across both urban centres and underserved areas. To date, Yiked Bina has delivered close to 500 telecommunications sites in Kedah, achieving a tenancy ratio of 2.49x — a strong indicator of growing data demand and the need for scalable infrastructure. The company has doubled its tenancies over the past three years, with a significant proportion of sites already 5G-enabled to support industrial growth, enterprise connectivity and tourism development. Leveraging EDOTCO Group’s regional expertise and operational scale, Yiked Bina is applying data-driven planning and digital analytics to identify coverage gaps and optimise deployment rollout, ensuring more targeted and efficient expansion. The company has also introduced one of Malaysia’s first biochar-based telecommunications poles, advancing sustainable and low-carbon infrastructure development. Gayan Koralage, Director of EDOTCO Malaysia Business, said: “Kedah’s strategic position within the Northern Corridor Economic Region — supported by industrial parks, tourism hubs such as Langkawi, cross-border trade access and national fibre routes — places it at the centre of Malaysia’s next phase of growth. “Strengthening digital infrastructure is fundamental to unlocking that potential — enabling investments, supporting industries and ensuring that communities across the state can participate meaningfully in the digital economy.” This appointment reinforces EDOTCO Malaysia’s and Yiked Bina’s commitment to supporting RMK13 and national connectivity targets, including improving network quality, expanding coverage and meeting MCMC’s coverage performance ambitions.

Duli Yang Amat Mulia Raja Iskandar Dzurkarnain ibni Almarhum Sultan Idris A’fifullah Shah, Raja Di-Hilir Perak Darul Ridzuan, today graced the NexQuantum AI Digital Park Strategic Partnership Ceremony attended by YAB Dato’ Saarani bin Mohamad, Menteri Besar Perak and representatives from the Perak state development ecosystem, international technology partners, business leaders, investors, consultants and local stakeholders. NexQuantum AI Digital Park is envisioned as a long-term digital infrastructure platform comprising eight proposed data centre facilities, with NQ1 planned as the first flagship development.  Cahya Suria Services Sdn Bhd and Suzhou EnnoTHING Technology Co., Ltd. today formalised a strategic partnership through NexQuantum 1 Sdn Bhd to advance the development of NexQuantum AI Digital Park, a future-ready digital infrastructure platform in Perak designed to support Perak’s digital ambitions, accelerate Malaysia’s digital transformation and, progressively serve the wider ASEAN and Greater Asian digital economy. Marked by the NexQuantum AI Digital Park Strategic Partnership Ceremony in Ipoh, the collaboration brings together Malaysian project development capability and international technology exposure to establish a high-value digital ecosystem focused on AI-ready infrastructure, cloud services, intelligent operations, sustainability, talent development and regional digital connectivity in which positioning Perak as an emerging digital pathway capable of supporting digital growth across Malaysia, ASEAN and broader Greater Asian Region. The ceremony was graced by the presence of Duli Yang Amat Mulia Raja Iskandar Dzurkarnain ibni Almarhum Sultan Idris A’fifullah Shah, Raja Di-Hilir Perak Darul Ridzuan, attended by YAB Dato’ Saarani bin Mohamad, Menteri Besar Perak and representatives from the Perak state development ecosystem, international technology partners, business leaders, investors, consultants and local stakeholders. Under the wider masterplan, NexQuantum AI Digital Park is envisioned as a long-term digital infrastructure platform comprising eight proposed data centre facilities, with NQ1 planned as the first flagship development. NQ1 is proposed as a 32MW, fully AI-ready Tier III data centre equipped with liquid cooling technology, representing an estimated RM1 billion investment in Perak. The project is intended to support next-generation digital demand, including AI computing, high-performance computing, secure data infrastructure, cloud services, cybersecurity and enterprise digital applications. A Strategic Platform for Perak and the RegionThe partnership through NexQuantum 1 Sdn Bhd combines the local development strengths of Cahya Suria Services Sdn Bhd with the international technology capabilities of Suzhou EnnoTHING Technology Co., Ltd. Cahya Suria Services contributes local development execution, stakeholder coordination, project origination and familiarity with the Malaysian operating landscape. Suzhou EnnoTHING brings technology exposure linked to the broader Foxconn Ennoconn ecosystem, including expertise across smart manufacturing, industrial internet technologies, AI infrastructure, automation, cloud and edge computing, intelligent monitoring and digital industrial systems. Together, the parties aim to position NexQuantum AI Digital Park not simply as a property development, but as a digitally enabled platform capable of supporting future AI, cloud and industrial technology requirements across Perak, Malaysia and progressively, the wider ASEAN and Greater Asian region. Supporting the Aspirations of Perak Sejahtera 2030The strategic partnership is aligned with the aspirations of Perak Sejahtera 2030, Perak’s long-term development agenda, which seeks to build a more progressive, competitive, inclusive and sustainable state through quality investment, future-ready infrastructure, talent development, innovation, responsible development and broader economic opportunity for the Rakyat. NexQuantum AI Digital Park is expected to support these aspirations by contributing to:• digital infrastructure and AI readiness;• local SME and vendor participation;• skilled employment and technical career pathways;• collaboration with universities and TVET institutions;• sustainable, technology-led investment; and• Perak’s emergence as a credible digital economy location. “NexQuantum AI Digital Park is not intended to be merely a local development or a single data centre project. Our ambition is to build a Perak-born digital infrastructure platform that is connected to Malaysia and positioned to serve the wider Greater Asian digital economy,” said Mr Ong Teng Boon, representing Cahya Suria Services Sdn Bhd and NexQuantum 1 Sdn Bhd. Mr Ong added that through NexQuantum 1 Sdn Bhd, this strategic partnership brings together local execution capability and international technology exposure. “We believe this creates a strong foundation for a project that is AI-ready, sustainable and aligned with Perak’s long-term economic transformation.” On alignment with the state agenda, Mr Ong said, “We support the aspirations of Perak Sejahtera 2030 by helping to attract high-quality investment, encourage local vendor participation, support talent development and contribute to a more progressive, competitive and future-ready Perak.” Duli Yang Amat Mulia Raja Iskandar Dzurkarnain ibni Almarhum Sultan Idris A’fifullah Shah, Raja Di-Hilir Perak Darul Ridzuan takes a moment to engage with two humanoids at the Strategic Partnership Ceremony of NexQuantum AI Digital Park, today. A powerful testament to the State’s commitment to innovation and the digital frontier. NexQuantum AI Digital Park is envisioned as a long-term digital infrastructure platform comprising eight proposed data centre facilities, with NQ1 planned as the first flagship development.  “Our collaboration through NexQuantum 1 Sdn Bhd reflects a serious long-term commitment to building a technology-enabled digital infrastructure platform in Perak. We see strong value in combining local development strengths with international technology capability to support the next generation of AI infrastructure,” said Mr Liu Huoping, representing Suzhou EnnoTHING Technology Co., Ltd. Mr Liu added that NQ1, as a planned 32MW fully AI-ready Tier III data centre with liquid cooling technology, will serve as an important first step under the broader NexQuantum AI Digital Park vision. “We believe it can become a meaningful platform for advanced computing, cloud services and future regional digital demand.” On the broader ecosystem, he added, “Through this partnership, we hope to contribute not only technology exposure and systems experience, but also ecosystem connectivity that can help position Perak more strongly within the regional digital economy.” Mr Aven Lou, who is leading the Foxconn Ennoconn team said, “NexQuantum AI Digital Park has the potential to evolve into a smart, AI-ready, sustainable and regionally relevant digital infrastructure platform. With the right long-term planning and ecosystem support, it can become an important bridge between local ambition and international technology opportunity.” Datuk Redza Rafiq Abdul Razak, representing PKNPk and the state development ecosystem said, “Perak welcomes serious and responsible investors who

Malakoff Corporation Berhad subsidiaries GB3 Sdn Bhd and Segari Energy Ventures Sdn Bhd have signed power purchase agreements (PPAs) with Tenaga Nasional Berhad to extend operations of two gas-fired power plants in Lumut, Perak. The agreements cover GB3’s 429MW open-cycle gas turbine plant and SEV’s 1,303MW combined-cycle gas turbine plant, bringing total capacity to 1,732MW. The extension is part of approvals under the Energy Commission’s Category 1 proposal for gas-fired generation assets announced earlier this year. Under the new terms, GB3’s operations are set to begin from Jan 1, 2027, while SEV’s will start from July 1, 2027. Both contracts will run until Dec 31, 2029. Malakoff Corporation Berhad said the plants have consistently supported the national grid with reliable performance and that the extensions will help ensure continued flexible power supply during periods of high demand. The group also noted that its Perai power plant in Penang has separately secured an extension until March 2030, with operations under the new agreement starting April 9, 2026.

Japan-founded science and technology venture Leave a Nest Group plans to increase its investment in Malaysia to about US$10 million (RM39.2 million), supporting around 50 local startups over the next five years. The amount is up from its current RM19 million investment across 18 Malaysian startups. Leave a Nest Malaysia managing director Abdul Hakim Sahidi said the group focuses on early-stage startups, particularly those emerging from universities, and helps them expand regionally and into Japan. He said the group also brings in technologies from Japan and Europe to co-develop solutions with local talent, especially in areas such as healthcare, agriculture and robotics. Leave a Nest founder and group CEO Dr Yukihiro Maru said Malaysia serves as a key base for expanding innovation across Southeast Asia, with the group also aiming to help at least one Malaysian startup list publicly within the next three years. He added that Leave a Nest, which operates globally, has already supported several startups in Japan that have gone public and continues to expand its innovation ecosystem across multiple markets.

Renewable energy manufacturer Jinko Solar Co’s decision to sell control of its Florida facility marks the latest sign of a wider retreat by Chinese clean technology companies from the United States, as they face tighter policies and reduced incentives. Chinese firms in the sector have cancelled about US$2.8 billion (RM11.0 billion) worth of planned US manufacturing investments in 2025, according to Rhodium Group data. More than half of proposed projects announced since 2022 have been cancelled, delayed or paused. The pullback comes after a surge in investment during the Biden administration, when tax credits encouraged Chinese clean-tech firms to commit about US$5.6 billion in US projects in 2023. However, policy shifts under President Donald Trump, including stricter rules on foreign-linked manufacturers, have reduced the attractiveness of the US market. Jinko Solar recently agreed to sell a 75% stake in its Florida solar plant to FH Capital, citing the need to optimise its overseas assets and reduce operational risks. The company also pointed to compliance with US manufacturing requirements. Other Chinese clean-tech players have also scaled back US exposure, including Trina Solar and JA Solar, which have sold or reduced stakes in American facilities. Analysts say the tightening policy environment and limited access to US tax credits are putting Chinese-owned factories at a significant disadvantage compared with domestic producers, weakening incentives for further investment.

Serial tech investor Balaji Srinivasan has been engaging Malaysian policymakers to promote his “Network School” initiative, while also proposing policy support to strengthen its presence in the country. According to people familiar with closed-door meetings last month, the former Coinbase executive met officials including Digital Minister Gobind Singh Deo to discuss closer collaboration between the government and his startup school project, which aims to attract global tech talent to Southeast Asia. He also presented ideas including a revamped Malaysian visa application system and suggested fast-track visa arrangements for Network School participants, allowing longer stays than standard tourist passes. The discussions reportedly covered opportunities in the digital economy, artificial intelligence, emerging technologies, digital finance and cross-border ecosystems. Srinivasan launched the Network School in 2024 as part of his broader vision to build tech-focused communities, an idea linked to his concept of “network states” outlined in his 2022 book The Network State: How to Start a New Country. The programme has been based in Johor’s Forest City development, where it has attracted tech entrepreneurs and hosted industry figures including Ethereum co-founder Vitalik Buterin. During a visit in April, Minister Gobind Singh Deo toured the site, met participants and was briefed on various blockchain and AI-related projects. He later described Malaysia as a rising destination for global tech talent in a social media post, which was subsequently removed for unclear reasons. The initiative comes amid growing interest in digital assets and blockchain in Malaysia, with government leaders and industry players increasingly exploring regulatory frameworks and innovation opportunities in the sector.

Aerostar Technology Sdn Bhd has signed a Memorandum of Understanding (MOU) with FADA, the space company of EDGE Group PJSC (United Arab Emirates), during the Defence Services Asia (DSA) 2026 conference. The partnership, facilitated by Rajeeshwaran Moorthy, MRAeS, Director of International Business & Finance Development at Aerostar Technology, focuses on two key initiatives: The formation of a Joint Working Committee to advance sovereign space-based programs that will enhance Malaysia’s national defense capabilities. Exploring the integration of FADA’s advanced space technologies into Malaysia’s aerospace and defense ecosystem. The signing ceremony took place at NAICO (National Aerospace Industry Corporation) and was witnessed by Ir. Ts. Dr. Shamsul, Chief Executive Officer of NAICO Malaysia, and Mohd Zakwan Mohd Zabidi, Senior Vice President of MIGHT (Malaysian Industry-Government Group for High Technology). The MOU was signed by: Franck Mouriaux, Acting CEO / Director of Space Program, FADA Captain Adam Abdullah, CEO/Executive Director, Aerostar Technology Sdn Bhd Rajeeshwaran Moorthy, MRAeS, Director of International Business & Finance Development, Aerostar Technology Sdn Bhd Captain Adam Abdullah said:“This MOU marks a significant step in further strengthening the G2G relationship between Malaysia and the UAE. It underscores our shared commitment to advancing sovereign capabilities in space and defense technologies for the benefit of both nations.” Ir. Ts. Dr. Shamsul Kamar Abu Samah, Chief Executive Officer of NAICO Malaysia, said:“NAICO Malaysia is pleased to witness this strategic collaboration between Aerostar Technology and FADA, which reflects the growing confidence in Malaysia as a regional hub for aerospace and space innovation. This partnership aligns with our national aspirations to strengthen sovereign capabilities, foster international cooperation and accelerate the development of Malaysia’s space and defence ecosystem.” Mohd Zakwan Mohd Zabidi, Senior Vice President for MIGHT, commented:“This collaboration between Aerostar Technologies and FADA is a timely validation of the vision we set forth in MIGHT’s Navigating Malaysia’s Space Frontier 2024/2025. It demonstrates how Malaysia’s strategic roadmap for space is being realized through high-impact partnerships that strengthen sovereign capabilities and foster international cooperation. Anchored by platforms such as TECHNOMART Malaysia, which connects industry, government, and global partners, this partnership accelerates technology transfer, knowledge exchange, and commercialization opportunities. MIGHT remains committed to championing initiatives that bring our foresight to life, positioning Malaysia as a regional hub for space innovation and a trusted partner in the global space economy.” This collaboration represents a proud moment for Malaysia’s aerospace ecosystem and opens new avenues for technology transfer, knowledge exchange, and long-term strategic partnership between the two countries.

HE Group Bhd announced that its wholly-owned subsidiary, Hexatech Engineering Sdn Bhd, has secured an RM86 million contract for the construction of a new 132kV/33kV substation project in Selangor. The engineering and utility infrastructure group said the contract officially commenced upon acceptance of the award and is scheduled to be completed by Oct 31, 2027. The project is expected to strengthen Hexatech Engineering’s order book and further enhance the group’s presence in the power infrastructure and utility construction sector. HE Group said the contract is anticipated to contribute positively to the group’s earnings throughout the duration of the project, barring any unforeseen circumstances. The company added that the contract will not have any impact on its share capital structure or the shareholdings of substantial shareholders. Hexatech Engineering is involved in electrical engineering and utility infrastructure works, with expertise in substation, transmission and distribution-related projects.

Tenaga Nasional Berhad’s wholly-owned unit, TNB Kuala Muda Solar Sdn Bhd (TNBKMS), has successfully raised RM1.05 billion through the issuance of Asean Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. In a filing with Bursa Malaysia, TNB said the proceeds raised from the sukuk issuance will support the development of a large-scale solar photovoltaic (LSS PV) project in Kuala Muda, Sungai Petani, Kedah. The company said TNBKMS is responsible for undertaking the full scope of the project, including the design, engineering, procurement, construction, installation, testing and commissioning of the solar facility, as well as the ownership, operation and long-term maintenance of the plant and its related ancillary equipment and facilities. The solar project will have an installed generation capacity of 500MWac, making it one of the key renewable energy initiatives under TNB’s sustainability and energy transition agenda. According to the filing, the sukuk issuance was carried out in 17 tranches under the Asean Green SRI Sukuk Wakalah programme. TNBKMS is a wholly-owned subsidiary of TNB Renewables Sdn Bhd, which is in turn fully owned by TNB. The issuance reflects TNB’s continued commitment towards expanding its renewable energy portfolio and supporting Malaysia’s transition towards cleaner and more sustainable energy sources.