Energy & Technology

Jaycorp Bhd is proposing to acquire the remaining 40% stake in its subsidiary, Jaycorp Green Energy Sdn Bhd (JGE), for RM15 million in cash, as part of its strategy to expand its footprint in the renewable energy sector and diversify its earnings base. The acquisition involves the purchase of 2.33 million shares from Microban (M) Sdn Bhd, which will increase Jaycorp’s ownership in JGE from 60% to 100%. Upon completion, JGE will become a wholly owned subsidiary, allowing the group to fully consolidate its financial performance. In a Bursa Malaysia filing on Thursday, Jaycorp said the move would eliminate non-controlling interests, enabling shareholders to benefit fully from JGE’s future earnings. The acquisition will be funded entirely through internally generated funds, with no additional liabilities expected. Following the deal, the group also plans to formally diversify its core business to include renewable energy, covering the investment, development and operation of assets such as solar, biomass, biogas and waste-to-energy facilities. Currently, Jaycorp’s primary businesses span furniture manufacturing, packaging, wood processing, construction, and trading and property-related activities. JGE, meanwhile, is involved in renewable energy, biomass and environmentally friendly waste treatment, including producing industrial steam from palm oil waste for the oleochemical sector. Jaycorp noted that its renewable energy segment was the only division to record growth in both revenue and profitability for the financial year ended July 31, 2025, highlighting its potential as a more resilient earnings contributor. “The proposed diversification enables the group to position renewable energy as a core and growing pillar of the business, alongside its existing manufacturing operations, while providing greater strategic flexibility to pursue opportunities across the renewable energy value chain,” the group said. The proposals are expected to be completed by the fourth quarter of 2026, subject to shareholders’ approval and other regulatory requirements. Jaycorp shares closed unchanged at 22.5 sen on Thursday, giving the group a market capitalisation of RM61.8 million. The stock has declined about 25% year-to-date.

Data centre platform AirTrunk will increase its investment in Malaysia by an additional RM12 billion this year, bringing its total committed investments in the country to RM27 billion, says Prime Minister Datuk Seri Anwar Ibrahim. He said the matter was conveyed during a courtesy visit by AirTrunk founder and chief executive officer Robin Khuda and his delegation on Wednesday (April 29). According to Anwar, discussions during the meeting focused on the progress of AirTrunk’s ongoing data centre developments in Johor, which form part of the company’s broader expansion plans in Malaysia’s digital infrastructure sector. He added that both sides also discussed a localisation framework aimed at increasing the participation of Malaysian companies across the data centre value chain, including construction, services, and supporting industries. “The investment commitment is highly welcomed and is expected to further strengthen Malaysia’s position as a competitive, progressive and high-capacity regional digital hub,” he said in a Facebook post on Thursday (April 30). Anwar noted that AirTrunk’s expanded commitment reflects continued investor confidence, particularly among global technology firms, in Malaysia’s role as a strategic destination for digital infrastructure and data centre development. He added that this development also aligns with the government’s ongoing efforts to streamline policies, improve regulatory efficiency, and facilitate faster implementation in the development and operation of data centres nationwide. The additional investment is expected to further accelerate Malaysia’s growth as a regional hub for cloud computing, hyperscale data infrastructure, and digital services.

Economy Minister Akmal Nasrullah Mohd Nasir announced on Tuesday that the government has set up the Jawatankuasa Peringkat Tertinggi Biobahan Api, a high-level biofuel committee, to strengthen Malaysia’s energy security. Speaking during a live Facebook briefing, Akmal said the committee was established to coordinate the nation’s biofuel agenda amid ongoing global supply chain disruptions and volatility in energy markets. He said the move is part of the government’s broader strategy to diversify energy sources and reduce dependence on imported fuel. Akmal noted that Malaysia remains vulnerable to fluctuations in global fuel prices, making the development of alternative fuels an increasingly important policy priority. Malaysia has long relied on a combination of conventional and alternative energy sources to safeguard supply security, including coal, natural gas, hydropower and renewable energy. Coal and gas remain the main contributors to the country’s electricity generation mix. He said the new committee will act as a central coordination platform to improve decision-making across ministries and industries as the government assesses how biofuels can support existing energy sources under Malaysia’s wider energy transition plans. Apart from fuel security, Akmal said the government is also promoting bio-organic fertiliser production as an alternative to conventional fertilisers to reduce import dependence and strengthen food security. He added that the initiative could be expanded through a circular economy model under the 13th Malaysia Plan, where biomass, organic waste, agricultural by-products and other local resources are reused as inputs for fertiliser production. According to Akmal, this approach would encourage sustainable farming, reduce waste and create new industrial opportunities. No further details were provided on the committee’s leadership or when it will begin operations. There was also no media question-and-answer session after the briefing.

Jasa Kita Bhd is acquiring KT System Sdn Bhd for RM10 million as it expands into the power and utilities infrastructure sector. In a Bursa filing, Jasa Kita said it will purchase 1.3 million shares from Norza Holdings Sdn Bhd and Nazarudin Salleh, giving it full ownership of KT System. The deal will be funded through internal funds and possibly bank borrowings, and is expected to be completed in the second quarter of the year. Group managing director Datuk Seri Iskandar Mizal Mahmood said the acquisition combines KT System’s technical expertise with Jasa Kita’s plan to build a broader engineering platform in the power infrastructure and utilities space. KT System is an electrical engineering firm involved in inspection, testing, commissioning and maintenance of electrical systems for transmission, distribution and solar projects, as well as power protection consultancy services. Its clients include Tenaga Nasional Bhd, Petroliam Nasional Bhd (PETRONAS), and Malaysia Airports Holdings Bhd. Jasa Kita said the move supports its strategy to tap into growth in Malaysia’s power sector, driven by AI data centres, renewable energy expansion, and grid optimisation initiatives. Shares of Jasa Kita were unchanged at 20 sen at midday, valuing the group at RM89.9 million.

Malaysia has made a major breakthrough in badminton with the launch of the world’s first AI-powered instant review system (IRS) to receive Badminton World Federation (BWF) approval. The world’s first AI-powered instant review system unit at the PETRONAS National Under-18 Championships 2026 yesterday.  Developed by Malaysian sports-technology firm Revealtek Sdn Bhd, the system was deployed at the PETRONAS National Under-18 Badminton Championship in Selangor from April 22 to 27, bringing elite-level line-calling technology into grassroots competition. It was previously used at the Affin 100Plus Junior Elite Tournament (Leg 2 – Group B) earlier this month. Players can challenge line calls using AI-powered cameras, with match footage reviewed and decisions delivered within seconds on whether a shuttle lands in or out. The result is displayed on screens visible to players, officials and spectators. Revealtek Sdn Bhd is a sports technology company providing digital officiating and broadcast solutions for badminton tournaments. The system is deployed through the company’s Reveal Digital Badminton Suite, which integrates the Reveal Lens Instant Review System (IRS), a digital scoring platform for umpires, and a live streaming system with real-time score overlays for stadium displays and broadcast audiences. Reveal Lens is one of only four systems globally approved by the BWF and is designed for rapid deployment across courts of varying sizes without fixed infrastructure. It can be set up in under an hour and operates fully wirelessly. Nizam Mohamed,CEO & Co-Founder, Revealtek. Chief executive officer and co-founder Nizam Mohamed said the system was developed to address cost and infrastructure barriers that have traditionally limited instant review technology to elite tournaments. He said comparable systems used at international events typically require fixed installations, specialist crews and operational costs that can exceed USD 100,000 per tournament, placing them out of reach for the vast majority of competitions worldwide. “Until now, this level of officiating technology has largely been limited to international tournaments with significant resources. With Reveal Lens, a junior tournament in Selangor can have the same officiating standard as a world-tour event in Denmark and we welcome organisations ready to take that step with us,” he added. The system also provides video replay data for use in performance analysis by players and coaches. Nizam said it is designed to operate on any court with minimal setup, reducing technical requirements and making it accessible to national associations, state bodies and tournament organisers. Revealtek CEO Nizam Mohamed received a token of appreciation for deploying the world’s first AI-powered instant review system at the PETRONAS National Under-18 Championships 2026. Beyond line calls, it helps maintain match flow through faster decisions, reduces disputes through visual evidence, and supports post-match review for training purposes. “We have received positive feedback from players, coaches and officials, who noted clearer line calls and an improved match experience even at junior-level competition,” he added. Revealtek aims to make its officiating technology accessible across all levels of badminton, including international tournaments, state associations, private clubs, social events and recreational matches, supported by flexible pricing for wider adoption of professional systems. This positions Malaysia as a global supplier of badminton technology.

• Terengganu appoints Vista Bumiria Sdn Bhd as the State-Backed Company (SBC) to drive the development and expansion of telecommunications infrastructure across the state. • Alam Mindscape Mobile Sdn Bhd appointed as One Stop Agency (OSA) to streamline approvals, coordination, and management of telecommunications towers. • YAM Tengku Dato’ Seri Muhammad Mua’az ibni Sultan Mizan Zainal Abidin appointed as Chairman of Vista Bumiria Sdn Bhd, strengthening alignment between state leadership and industry execution. EDOTCO Malaysia today announced a significant milestone in advancing Terengganu’s digital connectivity, following the State Government’s decision to appoint its subsidiary, Vista Bumiria Sdn Bhd as the State-Backed Company (SBC) for telecommunications infrastructure development, including fibre network management, alongside the appointment of Alam Mindscape Mobile Sdn Bhd as a One Stop Agency (OSA) for telecommunications tower. This strategic move reflects Terengganu’s commitment to accelerating the rollout of high-quality, future-ready digital infrastructure, while ensuring more coordinated, efficient, and sustainable development across the state. Under this mandate, Vista Bumiria will lead the development of telecommunications infrastructure, including tower and fibre deployment, serving as a central platform to support Mobile Network Operators (MNOs) and expand coverage across both urban and rural communities. Complementing this, Alam Mindscape Mobile’s role as One Stop Agency (OSA) will streamline the management, approvals, and coordination of telecommunications structures, reducing deployment bottlenecks and enhancing execution efficiency across the ecosystem. Further underscoring the state’s commitment, Yang Amat Mulia Tengku Dato’ Seri Muhammad Mua’az ibni Sultan Mizan Zainal Abidin has been appointed as Chairman of Vista Bumiria Sdn Bhd, reinforcing leadership alignment to drive Terengganu’s digital infrastructure agenda forward. Adlan Tajudin, Group Chief Executive Officer of EDOTCO Group, said the structure introduces a more effective model for infrastructure rollout at the state level. “We are honoured by the trust placed in us by the Terengganu State Government. As a regional digital infrastructure player, EDOTCO is committed to bringing our expertise to support a more efficient and coordinated rollout of telecommunications infrastructure. Ultimately, this is about delivering better connectivity for the rakyat and supporting Terengganu’s long-term digital growth.” He added that the model positions Terengganu to become a leading example of state-driven digital infrastructure development in Malaysia, enabling a more coordinated and efficient approach to connectivity rollout. EDOTCO will work closely with its Mobile Network Operator (MNO) partners to accelerate deployment across the state, ensuring that connectivity in Terengganu is reliable, high-quality, and accessible to all communities. This collaboration marks EDOTCO Malaysia’s first formalised platform to build and expand telecommunications infrastructure in Terengganu, laying the foundation for scalable, 5G-ready networks that will support the state’s next phase of economic growth and digital advancement.

Solarvest Holdings Bhd’s shares rose in early trading today after the company announced it had secured a RM1.06 billion engineering, procurement, construction and commissioning (EPCC) contract from Malakoff Silver Solar Sdn Bhd. At 10.02am, the counter gained 10 sen to RM2.87, with 3.80 million shares traded. In a Bursa Malaysia filing, Solarvest said the contract will be executed by its wholly owned subsidiary, Atlantic Blue Sdn Bhd. The scope of work covers the development of a 470 megawatt alternating current (MWac) solar photovoltaic power plant, as well as its related interconnection facilities. The project forms part of the Large Scale Solar 5+ (LSS5+) programme and will be located in Larut and Matang, Perak. Solarvest said the project represents a major milestone for the group as it continues to expand its presence in Malaysia’s renewable energy sector, particularly in utility-scale solar developments. The company added that the contract is expected to have a positive impact on its earnings and net assets per share for the financial year ending March 31, 2027, and will continue contributing over the duration of the project until completion. Solarvest noted that securing large-scale solar projects strengthens its order book visibility and supports its long-term growth strategy in the clean energy space.

Petra Energy Bhd’s wholly owned subsidiary, Petra Energy Development Sdn Bhd (PEDSB), has secured a field operations management services contract from Vestigo Petroleum Sdn Bhd for the SK407 production sharing contract (PSC) located offshore Miri, Sarawak. The contract covers the provision of operations management services for five offshore oil and gas fields namely West Lutong, Baram, Tukau, Siwa and Fairly Baram. In a filing with Bursa Malaysia, Petra Energy said PEDSB received the Letter of Award from Vestigo Petroleum on March 27, 2026. The contract will run for a period of two years, commencing from April 1, 2026 until March 31, 2028. No fixed contract value was disclosed in the award letter. Petra Energy said the contract is expected to contribute positively to the group’s earnings and net assets per share throughout the duration of the project. The company added that the award will not have any impact on its issued share capital or the shareholdings of major shareholders. Petra Energy noted that, as with any oil and gas services contract, the project carries operational and execution risks. However, PEDSB will implement appropriate measures to manage and minimise these risks during the contract period. The group also confirmed that none of its directors, major shareholders or persons connected to them have any direct or indirect interest in the contract. The contract does not require approval from shareholders or any additional government authorities.

Yinson Holdings Bhd is increasingly viewed as a strong player in the global energy transition space, with growing potential to become a leading force in the floating production, storage and offloading (FPSO) market. UOB Kay Hian Research said Yinson made history after successfully operationalising the world’s first offshore post-combustion carbon capture system through FPSO Agogo on March 30, 2026. The research house added that the group has also fully funded Provaris Energy’s liquid carbon dioxide tank venture, further strengthening its position in low-carbon energy solutions. Although Yinson was not initially seen as a key beneficiary of the Middle East crisis, its sole very large crude carrier (VLCC), YP Antares, is reportedly benefiting from stronger tanker spot rates. UOB Kay Hian said the ownership of the VLCC aligns with Yinson’s strategy of securing at least one new FPSO project annually. The group is currently competing with Bumi Armada Bhd for Mubadala’s Tangkulo gas FPSO project in Indonesia, which could receive approval by mid-2026. The brokerage noted that growing concerns over global energy security may make FPSOs a more attractive investment option for sovereign nations, potentially accelerating demand for Yinson’s services. Yinson’s subsidiary, Yinson Production, is also progressing on key projects including FSO Lac Da Vang and FSO Block B, with construction milestones advancing steadily. The firm said FSO Lac Da Vang could potentially achieve early delivery by mid-2026. Meanwhile, Yinson’s Brazil-based FPSO Anna Nery continued to support earnings, contributing more than RM100 million in associate income during the fourth quarter of FY2026. UOB Kay Hian maintained its “buy” call on Yinson with a target price of RM2.75, citing confidence in the group’s long-term growth outlook and strong FPSO pipeline. For the fourth quarter ended FY2026, Yinson posted revenue of RM1.12 billion, down 19.48% year-on-year due mainly to lower contributions from engineering, procurement, construction, installation and commissioning activities. However, the group said this was partly offset by stronger operational income from FPSO Maria Quiteria, FPSO Atlanta and FPSO Agogo following the start of their charter periods, as well as a RM340 million gain linked to the buy-out of the project loan for FPSO Atlanta.

A joint research and development initiative under the TÜBİTAK–MIGHT Grand Challenge has been launched to promote technological innovation and knowledge exchange between Malaysia and Türkiye. Supported by a RM1.2 million bilateral grant under the Bilateral Cooperation Programme, the project brings together industry and academic partners from the University of Nottingham Malaysia, Daythree, SESTEK, and İzmir Demokrasi Üniversitesi. This three-year collaboration focuses on developing an AI-powered Agent Insights and Coaching Platform designed to help organisations better understand customer–agent interactions and translate those insights into real-time learning and performance improvements for frontline service teams. The system, known as 360Pulse, aims to address gaps in fragmented AI tools used in live operations by integrating speech and text analytics, generative AI, and knowledge management into a single operational platform. The project also involves training AI models for Malaysian language contexts, including English, Bahasa Malaysia and Manglish, alongside the development of an intelligent knowledge base framework and proprietary tools to support wider industry applications. The four-party research team will focus on advancing human-centric service experiences using generative AI. Academic participants include Assoc. Prof. Mandy Sim Siew Chen, Assoc. Prof. Ioannes Tang, Assoc. Prof. Wendy Gan and Asst. Prof. Tan Chye Cheah from the University of Nottingham Malaysia, and Prof. Osman Büyük from İzmir Demokrasi Üniversitesi. Industry partners include Daythree’s Mr. Dinesh Paul Sivanesan and Mr. Rohan Sudakaran, and SESTEK’s Ms. Tuba Arslan Kır. Daythree founder and group CEO Raymond Davadass said the collaboration reflects the company’s focus on developing AI solutions that function in real operating environments. He said the key challenge in AI adoption is ensuring it works effectively in dynamic, real-world customer interactions, adding that the goal is to build solutions that connect data, systems and operations in a way that frontline teams can use effectively. The platform will be developed and tested within Malaysia’s Global Business Services ecosystem, using Daythree’s operational environment as a real-world testing ground. This approach aims to ensure the solution is scalable, consistent and adaptable to regional conditions before wider deployment. Daythree contributes its expertise in large-scale, multilingual service operations through its digital BPS capabilities and proprietary Daisy platform, providing the operational data and workflows needed to validate the AI system in complex service environments. SESTEK brings its expertise in speech and text analytics through its Conversation Intelligence and Analytics solutions, which are used globally in more than 20 countries. It also serves as the lead applicant and project coordinator, overseeing consortium management and project execution. SESTEK R&D&I Director Tuba Arslan Kır said the collaboration reflects increasing demand for AI solutions that can operate across diverse markets and real business conditions. She added that the project marks SESTEK’s first joint R&D initiative with Malaysian partners and could lead to further collaborations in the future. From an academic perspective, the University of Nottingham Malaysia said the project demonstrates the importance of bridging research and real-world application. Assoc. Prof. Mandy Sim said the initiative brings together academic expertise and industry experience to ensure research outcomes can be deployed at scale and create meaningful impact. The University of Nottingham Malaysia contributes expertise in AI-driven knowledge systems using Nvidia GPU infrastructure and human-centric service evaluation, while İzmir Demokrasi Üniversitesi provides expertise in generative AI, speech processing and natural language processing. Prof. Osman Büyük said the collaboration highlights the value of interdisciplinary and international partnerships in developing AI solutions that address real industry challenges. The initiative is supported under the TÜBİTAK–MIGHT Bilateral Cooperation Programme, which promotes joint innovation between Malaysia and Türkiye through technology development, knowledge exchange and cross-border collaboration.