KUALA LUMPUR: Khazanah Nasional Bhd has invested an undisclosed amount in Yinson GreenTech’s (YGT) electric vehicle (EV) charging division, chargEV, to accelerate the expansion of charging stations across Malaysia.
YGT, the green technology arm of Yinson Holdings Bhd (KL:YINSON), is working to support the Ministry of Investment, Trade and Industry’s (MITI) goal of installing 10,000 EV charging points nationwide.
Khazanah’s investment, made through its Dana Impak initiative, aligns with the government’s push to drive EV adoption in Malaysia. chargEV was initially developed by the Malaysian Green Technology and Climate Change Corporation (MGTC), an agency under the Ministry of Natural Resources and Environmental Sustainability (NRES).
According to MGTC, Malaysia had 3,611 charging stations as of early 2025.
YGT CEO Lim Chern Yuan said the partnership with Khazanah comes at a pivotal time, as the company experiences significant business growth.
“As of December 2024, our pay-per-use revenue has increased fivefold, and charging sessions have doubled compared to the previous year,” Lim said. “We look forward to strengthening Malaysia’s EV ecosystem by providing reliable, convenient, and seamless charging experiences for users nationwide.”
On Monday, Yinson’s share price rose 0.44% to RM2.25, giving the company a market capitalisation of RM6.4 billion. Year-to-date, the stock is down 14.39%.
