Malton Bhd has signed a memorandum of understanding (MoU) with US-based AI cloud infrastructure company Ricloud AI Inc to explore the development of AI compute centres in Malaysia.
The proposed facilities are specialised infrastructure designed to support artificial intelligence workloads, including large-scale model training and real-time AI applications.
In a Bursa Malaysia filing on Tuesday, the property developer said Ricloud AI will be responsible for attracting global technology firms to invest in and establish AI compute centres in Malaysia, providing technical expertise for the design and development of the facilities, supplying AI servers, Nvidia GPU clusters and related solutions, as well as assisting with project financing where necessary.
Malton will support the initiative by identifying suitable sites and securing land for the projects, assisting with regulatory approvals and local authority requirements, and acting as the main contractor responsible for construction, completion, testing and commissioning of the AI compute centres and related infrastructure.
The collaboration is intended to promote Ricloud AI’s services in Malaysia, with potential expansion into neighbouring Southeast Asian markets in the future.
Malton said specific project terms will be negotiated on a case-by-case basis once investors are identified, with definitive agreements to be entered into where required.
“The project represents an opportunity for Malton and its subsidiaries (Malton Group) to participate in the growing demand for cloud and AI-related computing as well as data centres,” the company said.
The MoU will remain valid for 12 months from June 23, unless replaced earlier by a binding agreement, terminated by either party, or allowed to lapse at the end of the collaboration period.
Malton added that the MoU is non-binding, except for confidentiality provisions, and serves as a statement of intent between both parties.
Shares in Malton closed up 0.5 sen or 1.96% at 26 sen on Tuesday, giving the company a market capitalisation of RM149.2 million.
