Energy & Technology

Keyfield International Bhd has won eight charter contracts for accommodation workboats (AWBs) and an anchor handling tug supply (AHTS) vessel, with a combined value of RM162 million. The contracts cover seven AWBs and one AHTS vessel, to be chartered to petroleum arrangement contractors (PACs) and oil and gas firms across Malaysia, Qatar, the UAE, and Thailand, according to a Bursa Malaysia filing on Monday (March 16). PACs are companies contracted by PETRONAS to explore, develop, and produce oil and gas. The contracts include extension options worth an additional RM84 million. Seven of the charters are expected to start in the first half of 2026, with one commencing in early 2027. Tenures range from two months to a year, with extensions of one month to a year. Keyfield said the contracts are expected to positively contribute to earnings and net assets for FY2026 and FY2027. CEO Datuk Darren Kee Chit Huei noted that the awards reinforce the company’s reputation as a reliable offshore marine services provider and demonstrate strong demand for its AWBs in the region. Keyfield shares closed at RM1.39 on Monday, down three sen or 2.11%, valuing the company at RM1.13 billion. Year-to-date, the stock has fallen 8.55%.

Smart city solutions provider ITMAX System Bhd has secured a 15-year contract to operate a smart on-street parking system in Johor Bahru. The company’s 65%-owned unit, Southmax Sdn Bhd, was appointed by the Johor Bahru City Council (MBJB), with the official letter of appointment received on Monday, according to a Bursa Malaysia filing. The contract will run from May 1, 2026, to April 30, 2041. Under the agreement, Southmax will implement a smart parking system, including the Parkmax payment and booking app, for on-street parking areas within MBJB’s jurisdiction. Revenue collected will be shared 70:30 between Southmax and MBJB. Southmax will also provide a security deposit for enforcement officer remuneration and cover all related management expenses. ITMAX said the contract is expected to positively contribute to the group’s earnings and net assets per share over the contract period. For FY2025, ITMAX posted a 16.4% rise in net profit to RM93.54 million from RM80.39 million in FY2024, while revenue increased 12.14% to RM246.97 million. Shares closed at RM4.44 on Monday, down four sen, giving the company a market capitalisation of RM4.6 billion.

Brazilian state-controlled oil company Petrobras announced on Monday that it has decided to exercise its contractual right to purchase Malaysian oil giant Petroliam Nasional Bhd’s (PETRONAS) 50% stake in two offshore fields in Brazil for US$450 million (approximately RM1.76 billion), according to a filing with the securities regulator. The acquisition will give Petrobras full ownership of the Tartaruga Verde field and Module III of the Espadarte field, both located in the prolific Campos Basin. Together, these assets produce an average of 55,000 barrels of oil per day. By acquiring full control, Petrobras will also be able to integrate existing wells in the Tartaruga Verde field with its newly acquired assets, according to sources cited by Reuters. The move comes after Petrobras made a significant discovery in November at the nearby Sudoeste de Tartaruga Verde block, which the company’s head of exploration and production, Sylvia Anjos, described as “marvelous.” Earlier in January, Brazilian oil company Brava had announced an agreement to purchase PETRONAS’ stakes as part of its long-term expansion strategy. However, Petrobras ultimately decided to exercise its option to acquire the assets directly. Brava and PETRONAS did not immediately respond to requests for comment regarding the change in plans. This acquisition strengthens Petrobras’ presence in the Campos Basin and aligns with its strategy to consolidate high-potential offshore assets under full ownership, allowing for greater operational control and potential synergies with existing production.

Japan and several Asia-Pacific countries are expected to announce at least US$30 billion (RM118.15 billion) in agreements with US companies this weekend, as officials from the Trump administration arrive in Tokyo to push for stronger cooperation on energy and critical minerals. According to a White House official, around 20 deals involving purchase commitments and other transactions have been confirmed as discussions begin. The agreements cover sectors such as liquefied natural gas (LNG), coal, nuclear energy, critical minerals, batteries, and strategic infrastructure financing. The Tokyo skyline. The flurry of activity comes in the run-up to Japanese Prime Minister Sanae Takaichi’s visit to Washington on March 19. The announcements come ahead of Japanese Prime Minister Sanae Takaichi’s visit to Washington on March 19 and US President Donald Trump’s planned trip to Beijing to meet Chinese President Xi Jinping in the coming weeks. The deals are being discussed at the first US-sponsored Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo, which aims to strengthen cooperation between the US and regional allies on energy and supply chains for critical minerals. These materials are essential for products such as mobile phones, batteries, and jet engines. The US has been working to reduce its reliance on Chinese supplies of critical minerals following trade tensions that disrupted the flow of some materials last year. The Trump administration has already taken steps to diversify supply chains, including acquiring stakes in mineral companies. The two-day summit, organised by the US Trade and Development Agency (USTDA), has drawn senior US officials and representatives from multiple government departments. In total, 18 countries, including Australia, Bangladesh, and South Korea, are participating in the discussions. Energy security has become a key focus amid global geopolitical tensions. The war in the Middle East and related disruptions to energy supply have highlighted the importance of diversifying sources of natural gas and other resources. The temporary suspension of LNG exports by Qatar’s state energy company, long considered one of the most reliable suppliers, has further underscored the risks of relying heavily on a single region. US Interior Secretary Doug Burgum said global energy markets are under pressure due to major geopolitical events, making cooperation among allies more important than ever. He emphasised that discussions at the summit should lead to concrete investments and partnerships rather than remain purely dialogue. Japanese Trade Minister Ryosei Akazawa also called for stronger collaboration among countries to build more resilient energy systems and supply chains, stressing that long-term decisions made today could shape the region’s energy landscape for decades. Officials are also expected to focus on critical minerals, which are central to the US strategy of strengthening supply chains and reducing dependence on rival economies. At the same time, Washington is encouraging partners to purchase more energy and resources from the US as part of its broader energy dominance strategy. One agreement already announced involves Venture Global Inc, which signed a long-term deal to supply 1.5 million tonnes of LNG annually to a subsidiary of South Korea’s Hanwha Corp. The company has also revealed plans to proceed with an US$8.6 billion expansion of its third LNG export project in Louisiana. More agreements are expected to be unveiled during the summit, with bilateral discussions between US and Japanese officials likely to lay the groundwork for next week’s meeting between Takaichi and Trump in Washington.

Computility Technology (Malaysia) Sdn Bhd (CTDC), BGMC Energy Holdings Sdn Bhd (BGMC), and reNIKOLA Holdings Sdn Bhd have signed a strategic term sheet to form a green energy alliance, aiming to supply approximately 630,000 megawatt hours (MWh) of renewable power annually. This large-scale, long-term initiative will support China’s ZData Technologies in powering its first AI data centre in Gelang Patah, Iskandar Puteri, scheduled to start operations in 2028. Under the agreement, CTDC, a wholly owned ZData subsidiary, will source renewable energy from BGMC’s solar farms to run the data centre. CTDC director Yeo Yong Hwang said the collaboration is a major step in decarbonising industrial infrastructure and advancing Malaysia’s national energy transition. “Today’s ceremony is more than signing a term sheet; it represents a shared commitment to sustainable growth, responsible resource management, and long-term environmental stewardship. The growth of cloud computing, AI, hyperscale data platforms, and digital services is transforming economies and societies. Through this alliance, we have secured a long-term renewable energy supply from the proposed solar farms,” he said at the Strategic Green Energy Alliance Signing Ceremony at Bangunan Dato’ Jaafar Muhammad. Yeo also revealed a key sustainability achievement: the company has eliminated its reliance on municipal water for the data centre’s cooling systems. Initially, CTDC applied for 9.5 million litres per day from Ranhill SAJ, but instead invested in advanced water treatment technology in collaboration with Johor Special Water (JSW) to recycle treated wastewater from a nearby sewage plant. “This closed-loop recycled water system allows our cooling operations to run independently of municipal water, greatly reducing pressure on local water resources. In short, we are creating a fully self-sustaining cooling system,” Yeo added. The alliance combines renewable energy sourcing and innovative water management, marking a significant milestone in sustainable industrial and digital infrastructure development in Malaysia.

ES Sunlogy Bhd, a mechanical and electrical engineering contractor, announced that its Singapore unit, 60%-owned ES Energy Solution Pte Ltd, has secured three electrical works contracts worth S$20.23 million (RM62.51 million) from Win Engineering Pte Ltd. The contracts include: S$3.02 million for supply and installation of electrical systems at a residential development in Tampines. S$12.77 million for electrical works at Jurong Pioneer Junior College, covering uninterruptible power supply and extra-low voltage systems. S$4.44 million for electrical installations at Ang Mo Kio, including 422 residential units and high linkway construction from Marsiling Grove to Woodlands Street 13. This scope covers electrical installation, telephone wiring, lightning protection, cable TV, external lighting, fire alarms, and temporary electrical works requiring licensed electrical workers. ES Sunlogy expects the contracts to positively impact the company’s net assets, earnings, and gearing over the contract period. The company’s shares closed at 24 sen, down 0.5 sen or 2.04%, giving it a market capitalization of RM164.64 million. Year to date, the stock has fallen more than 22%.

Cypark Resources Bhd has received government approval to proceed with the expansion of its waste-to-energy (WTE) plant in Ladang Tanah Merah, Port Dickson. The move follows a supplementary concession agreement signed between Cypark’s unit, Cypark Smart Technology Sdn Bhd, the Malaysian government, and the Solid Waste and Public Cleansing Management Corp. The agreement covers the development of Phase 2 of the WTE plant. “This marks a key milestone for Phase 2 and underscores our ongoing partnership with the government to enhance Malaysia’s waste management infrastructure and promote renewable energy,” said Cypark Group Managing Director Datuk Ami Morris. Construction of Phase 2 is expected to positively contribute to the company’s future earnings, though specific details of the expansion were not disclosed. The existing plant currently produces up to 15MW of renewable energy, processing around 1,000 tonnes of solid waste daily under a 25-year concession that runs until 2041. Following the announcement, Cypark shares fell 4.5 sen, or 7.5%, to close at 55.5 sen, giving the company a market value of RM456.67 million.

Tune Talk, Malaysia’s fully cloud-native Mobile Network Operator (MNO), announced at Mobile World Congress (MWC) 2026 the successful completion of Phase 1 of its Cloud Core Network Modernization in partnership with Nokia — becoming the first ASEAN telco to deploy this advanced cloud-native core technology at scale. Phase 1 was completed in January 2026, with Phase 2 now underway to further enhance automation, orchestration, and intelligent network capabilities. Built on a fully containerized, microservices-based architecture, the new cloud-native core delivers elastic scalability, resilient performance, and real-time intelligence, setting a new benchmark for how modern mobile networks are designed and operated. A Core Strategy Delivering Measurable Results Tune Talk’s cloud-native core strategy is already translating into significant business momentum: Subscriber base grew from 0.95 million in 2024 to 1.8 million by end-2025 On track to reach 2.5 million subscribers by mid-2026 Improved network stability and service consistency Reduced operational complexity through automation Enhanced scalability without proportional cost increases “The rapid subscriber growth underscores the effectiveness of our technology-first strategy—where infrastructure modernization directly fuels commercial acceleration,” said Gurtaj Singh Padda, Co-founder and CEO of Tune Talk. “This is not an upgrade. This is a structural reset of how a mobile network operates. By becoming the region’s first telco to implement this cloud-native core architecture at scale, we have built a platform designed for hyper-growth, automation, and digital service innovation.” “Our collaboration with Tune Talk shows what’s possible when cloud-native technology is used not just to modernize networks, but to transform how operators grow and innovate,” said Raghav Sahgal, Chief Customer Officer at Nokia. “By providing a fully containerized, cloud-ready core, Nokia is helping partners like Tune Talk build intelligent, resilient networks that scale at speed and unlock new digital services — giving them greater control, efficiency and the foundation for advanced connectivity experiences.” Building Full Network Independence In parallel with its core modernization, Tune Talk is also building its own roaming capabilities, strengthening its position as a fully independent cloud-native MNO. By developing in-house roaming infrastructure, Tune Talk gains greater control over international connectivity, enhances quality of service for subscribers abroad, and unlocks new cross-border innovation opportunities. The combination of an ASEAN-first cloud core deployment and proprietary roaming infrastructure positions Tune Talk as a forward-leaning digital MNO ready for the next stage of regional expansion. As Malaysia accelerates its digital transformation ambitions, Tune Talk’s partnership with Nokia demonstrates that global-scale innovation can originate from Southeast Asia — driving a new era of cloud-native mobile network evolution.

KJTS Group Bhd has proposed to acquire a 70.67% stake in engineering solutions provider iHandal Holdings Sdn Bhd for RM10.1 million in cash, as part of its strategy to strengthen its presence in the energy efficiency sector. In a filing with Bursa Malaysia, KJTS said its wholly owned subsidiary, KJ Technical Services Sdn Bhd, has entered into a share sale and purchase agreement with Corellia Holdings I Sdn Bhd to acquire 16.7 million redeemable and convertible preference shares B in iHandal. The shares will be converted into ordinary shares upon completion of the transaction. Following the acquisition, iHandal will become a 70.67%-owned subsidiary of KJ Technical Services and an indirect subsidiary of KJTS. Corellia Holdings I is wholly owned by AHAM Asset Management Bhd, with Datuk Wira Johan Ariffin Rozali Wathooth serving as its director. Established in 2009, iHandal specialises in sustainable engineering solutions focused on energy efficiency. Its proprietary Heatfuse™ technology captures and repurposes waste heat to improve energy utilisation. The company serves commercial and industrial clients including hotels, hospitals and manufacturing facilities, and operates across Southeast Asia, South Asia, Oceania and North America. For the financial year ended June 30, 2024, iHandal reported a net loss of RM1.23 million, improving from a RM3.19 million loss recorded in FY2023. The company had previously posted a net profit of RM426,000 in FY2022. KJTS said the acquisition will complement its existing cooling energy management and building support services by expanding its offerings into broader energy optimisation solutions. The group noted that the combination of both businesses could create cross-selling opportunities and enable KJTS to pursue larger and more complex projects, supported by enhanced engineering and implementation capabilities. Despite iHandal’s recent losses, KJTS said these were mainly attributable to financing costs and project timing, adding that the company’s core operations continue to deliver positive gross margins. The acquisition will also provide KJTS access to iHandal’s technical expertise, intellectual property and engineering team, strengthening the group’s capabilities and supporting its regional expansion plans. The RM10.1 million purchase will be funded entirely through internally generated funds and will not impact KJTS’ issued share capital or major shareholdings. Subject to the fulfilment of conditions precedent, the transaction is expected to be completed by the second quarter of 2026. Shares of KJTS closed 1.5 sen higher, or 2%, at 76 sen on Thursday, giving the company a market capitalisation of RM524.79 million. The stock has declined 27.6% over the past year.

Jati Tinggi Group Bhd has won a contract from Tenaga Nasional Bhd (TNB) to carry out electrical infrastructure works for a 275kV bulk supply to a data centre (DC) in Pasir Gudang, Johor, valued at RM79.86 million. According to a filing with Bursa Malaysia, the contract involves the installation of 275kV double circuit underground cables to connect the data centre to the national grid. The company said the project is part of its infrastructure utilities engineering solutions portfolio, which includes high-voltage electrical installations and other large-scale engineering works. “The contract is scheduled to take effect from March 2, 2026 and is expected to be completed within 270 days from the commencement date, which will be determined at a later stage,” the company said in the filing. Jati Tinggi noted that the project is anticipated to have a positive impact on the company’s future earnings, earnings per share, and net assets per share throughout the contract period. The company also confirmed that the award will not affect the share capital of its substantial shareholders. This contract marks another milestone for Jati Tinggi as it continues to expand its presence in the high-voltage and data centre infrastructure sector, reflecting growing demand for reliable power supply solutions in Malaysia’s rapidly expanding digital and industrial landscape.