Investment & Market Trends

CYBERJAYA: Dagang NeXchange Berhad (DNeX), through its wholly-owned subsidiary Dagang Net Technologies Sdn Bhd (Dagang Net), has successfully implemented Saudi Arabia’s Makkah Route initiative across six airports in three countries. The Makkah Route initiative simplifies the Hajj pilgrimage process by facilitating pre-clearance procedures in pilgrims’ home countries, ensuring smoother arrivals in Saudi Arabia with direct transfers to accommodations in Makkah and Madinah. In 2024, Dagang Net secured an RM11.5 million contract to support the Makkah Route initiative, playing a key role in ensuring a seamless Hajj pilgrimage for participating countries. Dagang Net focused on overseeing site facilitation and providing technical and technological equipment for the designated immigration pre-clearance areas established by Saudi Arabia. This involved collaboration between DNeX and countries including Malaysia, Indonesia, and Turkey. DNeX’s Executive Chairman, Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, stated, “We understand the significance of Hajj for Muslims around the world. Contributing to initiatives like the Makkah Route fills us with immense pride, supporting such a significant journey of faith. By streamlining the entry process, we alleviate some of the challenges pilgrims face, allowing them to focus entirely on this holy experience.” He added that the Group’s involvement in the Makkah Route initiative has been a strategic success, allowing DNeX to contribute to a meaningful cause while gaining valuable experience working with international partners and airport authorities in Malaysia, Indonesia, and Turkey. This expanded DNeX’s regional presence and opened opportunities for future collaborations. Dagang Net was first awarded this project in 2019, initially tasked with providing site facilitation and technical and technological equipment at pre-clearance areas in Malaysia and Indonesia. Due to their successful implementation, they were awarded an additional site in Turkey in 2023, followed by three more sites in Turkey and Indonesia in 2024. The six sites involved are KUL – KLIA Terminal 1 (Malaysia), CGK – Soekarno–Hatta International Airport (Jakarta, Indonesia), SUB – Juanda International Airport (Surabaya, Indonesia), SOC – Adi Soemarmo Airport (Solo, Indonesia), IST – Istanbul Airport (Istanbul, Turkey), and ESB – Ankara Esenboga Airport (Ankara, Turkey). The project was awarded by Elm Company, a Saudi government-owned entity incorporated by the Public Investment Fund, the investment arm of the Saudi Ministry of Finance.

KUALA LUMPUR: Gentari Sdn Bhd, a clean energy solutions provider and a subsidiary of Malaysia’s PETRONAS Group, is partnering with Virta, a leading EV charging business solutions provider, to expand the EV charging network across Southeast Asia. Gentari, through its subsidiary Gentari Green Mobility Sdn Bhd, will utilize Virta’s digital platform services, technology, and industry expertise to deploy and operate EV charging infrastructure. Additionally, the partnership will collaborate with third-party entities to ensure EV charging interoperability in the region. As part of its long-term goal to become the leading green mobility solutions provider in the Asia Pacific, Gentari is rolling out advanced EV charging services through its clean energy platform, Gentari Go. Launched in Malaysia in February 2024, Gentari Go also offers access to chargers in Thailand and Singapore, reinforcing Gentari’s market-leading position in high-powered direct current (DC) charging. The network already includes over 2,400 charging points across these three countries, with plans to add another 2,000 by the end of 2024. “This partnership has vast potential to capture the momentum of the energy transition in Southeast Asia. Gentari Green Mobility has rapidly grown into a leading market player in e-mobility within a year and a half. We are excited to further catalyze growth with our market-proven, end-to-end global EV charging services and experience, particularly in Singapore, Thailand, and Australia. Our ecosystemic approach will enable faster EV penetration across the region, ‘Powered by Virta’,” says Virta co-founder and Chief Business Development Officer Elias Pöyry. “I am confident that Gentari is well-positioned to be a market leader in Southeast Asia. We have a significant presence in the region and a deep understanding of local business needs and consumer expectations. Partnering with an entity that brings global standards and industry experience is crucial for executing our plans with optimal speed and scale,” adds Shah Yang Razalli, Deputy Chief Executive Officer of Gentari and Chief Executive Officer of Gentari Green Mobility. Virta, the leading European EV charging platform, brings a decade of experience in EV charging services, having enabled over 1,000 charging networks in 36 countries, including the most mature EV markets in Europe. Virta has also been established in Southeast Asia since 2022. The demand for robust charging infrastructure is increasing as Southeast Asia and Oceania accelerate EV adoption, with several countries in the region already seeing double-digit EV shares in new car sales. The market in this region is expected to develop faster than in the US and EU, driven by a wide selection of EVs from local and Chinese manufacturers offering affordable models to meet the growing demand.

KUALA LUMPUR: Kinergy Advancement Bhd’s (KAB) wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd (KEH), signed a memorandum of understanding (MoU) with Permodalan Kedah Bhd (PKB), a state-owned investment company in Kedah. This partnership, signed on June 19, 2024, will see both entities jointly work towards the realisation of clean, renewable energy projects by integrating their combined technical expertise and extensive business acumen. KAB executive deputy chairman and group managing director Datuk Lai Keng Onn expressed his optimism about this collaboration. “This partnership embodies a shared vision between KAB and PKB. Beyond this MoU lies a vision for accelerated growth to transform Kedah into a beacon of progress and innovation. “KAB values PKB’s dedication to advancing the state through innovative technologies that prioritise environmental impact reduction alongside achieving energy conservation, stability and resilience in line with Kedah’s sustainable development objectives,” he said in a statement. PKB will lead efforts in identifying potential land for renewable energy projects and assisting in obtaining project licensing and authorisation responsibilities. KEH, on the other hand, will assume the technical responsibilities, utilising its broad experience in the energy sector. PKB chief executive officer Tuan Mohd Azad Jasmi said the agency seeks to integrate its strategic land and resource management capabilities with KAB’s expertise in energy and engineering to advance sustainability-focused technologies. “Through this collaboration, we aim to foster substantial transformative impacts that support sustainable progress in Kedah, focusing on feasible energy project development,” he said. This collaboration aims to synergise the strengths of KAB and PKB in developing various energy generation projects across Malaysia, with a primary focus on Kedah. The MoU focuses on deploying clean energy (cogeneration, waste heat recovery), renewable energy (solar plant/farm and floating solar, rooftop solar PV, waste-to-energy, hydroelectric), energy-efficient (building management systems, chiller optimisation) solutions, and engineering scope of works (infrastructure and internal building works). PKB and KAB have forged a forward-thinking partnership that explores new opportunities, including implementing battery storage systems and solutions, district cooling systems for existing and new buildings and assets, and a commitment to further cooperation in sharing resources and information. Through this cooperative effort, KAB seeks to expand its market presence in a progressive Malaysian state, enhance its sustainable energy portfolio, and strengthen its position as a one-stop energy and engineering solutions provider. Recognising PKB’s trust, KAB is privileged to collaborate with PKB to pursue mutual objectives, generate new opportunities for both entities and contribute to the state’s economic and environmental goals. “Together, we aim to establish a model of innovation and sustainability that benefits both our stakeholders and the communities we serve,” Lai said, citing the MoU signing as evidence of the company’s ongoing success as a key energy player.  

KUALA LUMPUR: Ayudante, the Japan-based leading digital marketing and digital measurement consulting agency dedicated to helping clients use data to drive business in the digital age, today announces its acquisition of Sparkline, a Singapore-based independent digital marketing business and pioneering Certified Partner and Reseller of Google Marketing Platform (GMP), making Sparkline a wholly-owned subsidiary of Ayudante. Sparkline has the sales rights for Google Marketing Platform and has a strong business in Malaysia. This acquisition marks a significant regional milestone, showcasing a successful example of a regional acquisition by a Japanese company and bolstering confidence in the ability of regional companies to exit to international buyers. Sparkline, one of the first Google Marketing Platform Certified Partners and Resellers in Asia, has established a reputation for its industry-leading expertise in data utilization consulting. Ayudante, the first Japanese Google Marketing Platform Certified Partner and Reseller, has been expanding its international team to support the global business expansion of its Japanese clients. The acquisition of Sparkline by Ayudante underscores the increasing interest of multinational companies in Southeast Asia’s dynamic tech ecosystems. With Malaysia being a critical market in this region, businesses can now access Ayudante’s certified services of Google Marketing Platform. This is in line with the growing demand for data analytics and digital marketing solutions in Malaysia, driven by the government’s emphasis on digital transformation and the adoption of advanced technologies across various sectors. Hiroshi Yasukawa, CEO of Ayudante, said: “I am pleased to be partnered with Sparkline, which has the longest history in our business field in Singapore. Together, we aim to become the top GMP reseller in the Asia Pacific region.” Aleetza Senn, CEO and founder of Sparkline, said: “Sparkline has always been about providing bespoke and agnostic analytics services to businesses using digital data for customer and marketing growth. This alignment with Ayudante is really exciting and helps us scale that vision to many more businesses in the region, especially at a time when the industry is being disrupted due to privacy regulations and change.” Besides the Google Marketing Platform business, the collaboration will also focus on SEO across multiple languages and digital marketing. The companies’ developers will work together to enhance data development, automation related to tags, and digital marketing services in the era of GenAI. This strategic move is timely for Malaysia, where businesses are increasingly relying on sophisticated data analytics and automation to stay competitive. The names of the respective companies will not change, and the conditions of the acquisition have not been publicly disclosed. Following the acquisition, Naohiro Yamaura, COO of Ayudante, will assume the position of Chairman of the Board at Sparkline under the new management structure. He is one of the most successful figures in the Google Marketing Platform business in Japan, having authored eight books and leading the industry. Moving forward, Yamaura will collaborate with CEO Aleetza to accelerate Sparkline’s growth in the Malaysia market.

KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) and Amazon announced that they have entered into a Memorandum of Understanding (MoU) to bolster export capabilities of small and medium-sized enterprises (SMEs) in Malaysia. Under the agreement, both parties will join forces to spearhead the “Go Global with Amazon and MATRADE” initiative which will help Malaysia brand owners and sellers seize cross-border business opportunities with Amazon Global Selling. Amazon Global Selling helps businesses from anywhere in the world to launch a global business, build international brands and reach Amazon’s hundreds of millions of worldwide active customer accounts. MATRADE and Amazon will partner to raise awareness and provide essential knowledge about cross-border e-commerce to Malaysia brand owners and sellers. Amazon Global Selling will share insights and expertise, facilitate training workshops, and guide businesses through the Amazon seller journey, including account registration, product preparation, listing, shipping, advertising, and more. MATRADE and Amazon will work closely to showcase success stories of Malaysia-based sellers selling overseas on Amazon – such as in the U.S. and EU stores, inspiring and motivating other local small business owners to start their cross-border business with Amazon Global Selling. In addition, MATRADE will support and promote Amazon Global Selling’s training activities to relevant local entities, including businesses, authorities, and business associations to foster greater participation. The MoU will strengthen and open new opportunities for MATRADE and Amazon’s collaboration which first started in 2021. The latest joint initiative took place in April 2024 in Kuala Lumpur and consisted of an in-person seller workshop which saw strong participation from Malaysia sellers. “We are thrilled to partner with Amazon in our efforts to empower Malaysian SMEs in international markets,” said Dato’ Seri Reezal Merican Naina Merican, MATRADE Chairman who witnessed the MoU Exchange today. “This MoU highlights our commitment to helping them, leverage e-Commerce in expanding their global footprint. Together with Amazon, we aim to provide Malaysian SMEs with the essential tools, knowledge, and support to succeed in today’s competitive global marketplace.” Anand Palit, Head of Amazon Global Selling in Southeast Asia, said, “We are excited to strengthen our collaboration with MATRADE to empower Malaysia SMEs to leverage Amazon’s global reach. We are observing a growing interest from Malaysia sellers to sell overseas with Amazon. In fact, the number of new Malaysia sellers selling their products overseas through Amazon Global Selling nearly doubled in the January-April 2024 period compared to the same period the year before. The MoU with MATRADE will provide Malaysia brand owners with the knowledge, resources, and support they need to seize cross-border business opportunities as Amazon sellers.” Amazon’s global infrastructure and resources to help sellers sell overseas Amazon is continuously investing in logistics, tools, services, programs, and people to foster the growth of sellers’ businesses on Amazon worldwide. Globally, more than 60% of sales in the Amazon store come from independent sellers—most of which are small and medium-sized businesses. Amazon has 23 stores globally and can ship products to customers in over 200 countries and territories. Through Amazon services like Fulfillment by Amazon (FBA), sellers can scale their business more easily with Amazon helping them store, pick, pack and ship their products, while also taking care of customer service and product returns. With Supply Chain by Amazon, an end-to-end, fully automated set of supply chain services, sellers can quickly and reliably move products from manufacturing locations to customers around the world. Amazon provides tools to sellers such as the Customer Loyalty Analytics Dashboard and Brand Tailored Promotions which can help provide upsell and retention capabilities tailored to different customer segments and build stronger relationships with customers and boost brand and product-level loyalty. Amazon constantly listens to selling partners’ feedback to innovate to improve the seller experience. For example, in order to reduce time spent on generating accurate listings, a set of generative AI capabilities have been launched to make it faster and easier for sellers to list new products.

KUALA LUMPUR: KL Bunkering Sdn Bhd, a joint venture between Bursa Malaysia-listed Hiap Huat Holdings Bhd (HHH) and KL Platform Services Sdn Bhd (KLPS), has commenced the construction of an RM100 million liquid bulk storage terminal at West Port in Port Klang. This deal comprises a 46+12-year land lease agreement obtained from Westports Malaysia Sdn Bhd, a subsidiary of Westports Holdings Bhd. This development responds to Malaysia’s increasing demand for liquid bulk storage and underscores KL Bunkering’s commitment to environmental sustainability and innovative industry practices. The new terminal, set to be a game-changer in the industry, will occupy a strategic location at West Port. This prime positioning will enable the terminal to capitalise on West Port’s superior connectivity and access to local and international markets. The facility will feature a storage capacity of 123,800 cubic meters spread across 41 vertical storage tanks. It is designed to accommodate various products, including petroleum, petrochemicals, and biofuels, ensuring versatile and comprehensive storage solutions for various industrial needs. HHH managing director Datuk Chan Say Hwa expressed his enthusiasm for the project. “We are thrilled to embark on this ambitious project, which represents a significant milestone for the HHH group and the Malaysian liquid bulk storage landscape. “Our commitment to green practices, combined with our strategic location and cutting-edge technology, will position us as one of the leaders in the industry while contributing to a more sustainable future,” he said in a statement. Through several key initiatives, the terminal will embody KL Bunkering’s dedication to environmental stewardship. It will employ certified sustainable products as the primary heating source, significantly reducing the environmental impact. In line with global sustainability trends, the focus will also be on storing environmentally friendly products such as biofuels and materials related to the circular economy. This approach minimises ecological footprints and supports the transition towards a greener and more sustainable industry. In addition to its environmental initiatives, KL Bunkering has established a strategic partnership with Qastalani Sdn Bhd, a leading player in the Malaysian bitumen market. This partnership includes a 46-year collaboration agreement for approximately 38 per cent of the first phase capacity, with an option to expand to 40,000 cubic meters. This collaboration highlights the strong market confidence in KL Bunkering’s capabilities and the project’s potential. The terminal’s development will be executed in three planned phases, with an estimated capital expenditure of approximately RM100 million over five years. The first phase is anticipated to be operational by the fourth quarter of 2025. This phased approach ensures a robust and scalable development process, allowing KL Bunkering to effectively meet the growing storage demands. With a seasoned management team boasting extensive experience in the maritime and oil and gas industries, KL Bunkering is well-equipped to navigate the complexities of this ambitious project and deliver exceptional value to its stakeholders.